Search Results for: Minnesota

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As Boomers Retire, the Transfer on Death Deed Comes of Age

Each day, about 10,000 baby boomers reach retirement age. Their recent frustrations, as they’ve grappled with Covid-19, have only accelerated the national jump to retirement. And now, this large cohort of retirees is thinking about getting its financial affairs squared away. Baby boomers still hold the lion’s share of real estate assets in the United States. At some point, …

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Here We Go Again, Homeowners: A New Rash of Deed Scams

“I hate scams.” – Erica Jong Pass the word to those who need to hear it. Across the United States, official-looking letters are convincing homeowners to pay for documents to certify the obvious — that they own their homes. Homeowners who send payments in response to these letters are not receiving the documents for which …

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Race Restrictions Still Appear on Deeds. There’s a Movement Afoot to Delete Them.

Imagine the shock of reading your deed carefully and finding this rule: “This property shall not be resold, leased, rented or occupied except to or by persons of the Aryan race.” The Seattle-based Windermere Real Estate company doesn’t want to put up with such findings any more. This year, it’s working with its clients to use Washington state …

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How Not to Overpay Your Property Taxes

Homeowners pay taxes on their real estate to fund local services. Renters, too, pay property taxes, as they’re rolled into monthly rent charges. The property taxes we all pay go to sustain libraries and schools, emergency services, environmental projects, sewer work and road maintenance. How much is one property’s share? To determine this amount, an …

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For Home Buyers and Sellers: How a Contract for Deed Works

We’ve noticed, and maybe you have, too. Mortgage lenders have really been tightening their loan approval standards these days. Lenders are cautious because so many people are coping with layoffs, career changes, and volatile financial situations. Some sellers are willing to help hopeful home buyers avoid the mortgage process, using the contract for deed. Often, …

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You’ve Paid Off the Mortgage. What Happens Now?

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 …

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Remote Notarization of Real Estate Deeds

Today, many real estate documents are handled electronically. But it remains clear that notarizing a document, under the laws of all states, means witnessing a signature in real time. The notary’s witnessing role serves to verify to the public that the person who signs a paper has been personally identified, and freely signed the document. Not to be …

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