Search results for: “Minnesota”
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States Scrub Racial Deed Restrictions From the Records
Missouri’s on a mission — to end racial deed restrictions. Its new law would require deletions of language regarding anyone’s race, religion or national origin from any deeds recorded from now on. Some Missouri homes have deed language that dates back a century, barring people from groups “other than the Caucasian race” from buying or…
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Going Solar: Does It Impact My Title?
An Intro to Solar Easements Solar electricity changes real estate. When a homeowner adopts solar energy, other homeowners are impacted. Solar systems create aesthetic changes. Because of community resistance, they also create a need for solar access rights. Does any of this affect the title or property value? It can — in the form of…
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Property Tax Assessments Rising Again in 2022-2023
You Might Be Eligible for Tax Breaks If you’re a homeowner, or you’re in the market to buy a home, the last thing you want to hear about is rising property taxes. But check those bills. Even though we expect a slowdown throughout the rest of the year and beyond, the 2022 real estate market…
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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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Know the Facts About Liens
Good Debt, Bad Debt… Nowadays, people can be divided into three classes: the haves, the have-nots, and the have-not-paid-for-what-they-haves. – Earl Wilson If you own a home, there’s probably a lien (or a few) on its title. A lien represents a debt that the homeowner has yet to pay. A mortgage creates a lien. There…
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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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Pandemics, Property Transfer Breakdowns… The Digital Real Estate Industry Is Coming
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.
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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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Removing Someone from a Real Estate Deed
Removing someone from a deed—is it possible? The short answer: No. Misconceptions and Realities It is a misconception that someone can be “removed” from the deed. Nor can a co-owner simply take away another party’s interest in a property by executing a new deed without that other party. In short, no one can be passively…
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Types of Vesting Related to Real Estate Ownership
Title vesting is the way an owner (or owners) of property takes title to their real estate. The way that title is held will affect what the owner (or owners) can do with the property during his or her lifetime, and will also determine whether or not the property has to go through probate proceedings…
