Real Estate Deeds Made Easy Since 1997
COVID-19 has changed the real estate market. Understanding the recent changes can help buyers prepare for the transaction, and set reasonable home buying timelines. Here is an overview of changes in the buying process. We conclude with a 6-point checklist for the buyer coming into the market today. It’s springtime — always a great season …
Continue reading “Buying a Home? How Covid-19 Has Changed the Game”
The latest impetus to digitalize real estate might just turn out to be the tipping point. Practically overnight, COVID-19 is a defining element of our time. This hideous and deadly virus became a major challenge to the systems that carry us through our everyday transactions.
Homes are complicated assets. When a homeowner dies, this becomes obvious. When loved ones are experiencing grief and loss, the real estate details can border on overwhelming. If someone in your life died holding an interest in real estate, here is some general guidance. You might have some actions to take, depending on the situation.
We’ve talked about scams, and the risks that can be involved in delegating a power of attorney to another person. Now, let’s uplift the mood. Visualize the day you submit that very last mortgage payment. Congrats! Your debt is satisfied. Your certificate of satisfaction can now be recorded in the county where your home is. If your …
Continue reading “The Golden Years, With a Paid-Off Mortgage”
When you buy a home, you receive the deed. And you hold title. The deed and title are interrelated yet distinct concepts. Title refers to ownership, including the legal right to possess and use a parcel, the right to exclude others from using it, and the right to transfer your interest to others. If you do transfer your property to …
Continue reading “Property Title? Deed? What’s the Difference?”
Many people have liens on their real estate. Consider your mortgage—a lien that leverages the home as collateral for your mortgage loan. Other liens, too, can show up in a title search. Homeowners should know what kind of liens might attach to a home they already own, or a home they’d like to buy. Here, we review the basics of home liens: types …
With a deed of trust, a buyer pledges an interest in real estate to secure a loan. In some states this takes the place of a mortgage document. (For a list of states commonly using deeds of trust see the section on Mortgage States and Deed of Trust States in our previous post, “You’ve Paid Off the Mortgage. What …
Congratulations! Paying off a mortgage is an impressive milestone. Now that you have paid off all the debt on your property, your home state’s law will direct your lender to take certain actions. The lender will send you a certificate of satisfaction. This certificate, which the lender records in your home county, notifies the public that you have satisfied your obligation, and …
Continue reading “You’ve Paid Off the Mortgage. What Happens Now?”
Trustee’s deeds convey real estate out of a trust. Depending on the circumstances, they may or may not include warranty to the title. They are also used in some foreclosure situations (generally without warranty). In addition to meeting the state and local content requirements for traditional deeds (grant deeds, quitclaim deeds, etc.), they should include …
For most people, buying a piece of land is a simple proposition: pay the money, file the deed, and the property is yours. Deed restrictions, though, make it clear that the world of real estate transactions is rarely so simple. Simply put, deed restrictions limit what you can and can’t do with your home. A …