Real Estate Deeds Made Easy Since 1997
A Quitclaim? No problem. It’s Common Practice Here — and Safeguarding Your Title Is Straightforward. Three major Massachusetts real estate deeds are commonly used: the quitclaim deed, the warranty deed, and the release deed. In contrast to most other places, Massachusetts home buyers receive their property through quitclaim deeds. So, we need to delve into …
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What happens to your property after you die? Most likely, your assets will be subject to probate, the legal process of settling an estate and distributing any remaining property to those entitled to receive it. All assets that do not pass directly through a survivorship interest, beneficiary designation, or trust are subject to probate.
A trust is a legally binding arrangement whereby a settlor transfers title to another person, the trustee, for the benefit of a third, the beneficiary. Trusts in Massachusetts are governed by the Massachusetts Uniform Trust Code, codified at G.L.c. 203E.
The Torrens Act (Registered Land) is named after Sir Robert Torrens, an Australian customs administrator who established a system of recording ownership of ships in the 1850s. This system eventually spread to English speaking countries. Under the Registered Lands system, the owner’s certificate of title defeats any competing claims on the property that were not …
Corporate buyers are snapping up residential properties in Massachusetts and pushing out long-time residents, according to a report by the news outlet 25 Investigates. These investment companies form a complex network, making it nearly impossible for individuals and towns to hold them accountable.
The city of Baltimore plans to record all its 13,000+ empty houses and townhouses on the blockchain. And it all started with Ebony Thompson’s class project.
Most home buyers get a mortgage loan to finance the purchase. And for most people, the mortgage servicing company holds some of the owner’s payment in escrow, and pays property taxes out of that account on behalf of the borrower as long as the mortgage exists. But what if the mortgage servicer lets a tax …
Continue reading “Mortgage Company Paying Your Property Taxes Out of Escrow? Check.”
Sellers who believe spirits reside in their homes should disclose this to the buyers, as haunting could be deemed a stigma. And most buyers want to know. That’s right. Even spirits can’t escape the scrutiny of a buyer. And two out of three potential buyers might just ghost you if they hear about your other-worldly …
Tens of millions of U.S. residents have a problem. There aren’t enough homes for the elderly and disabled population. One in four of us — more than 60 million people — have a disability. And our older adult population is rapidly growing. As a general matter, the United States needs something between 3 million and …
For some seniors and people with disabilities, property taxes can feel like the proverbial last straw on the camel’s back. On the other hand, local governments need funding. They tax their residents to fund resources like emergency response departments, schools, and libraries. How much will you owe in property taxes? It depends on what your …
Continue reading “Property Tax Breaks for Older Homeowners (New Changes for NJ, PA, and MD Seniors)”