Mineral rights have long been the subject of lawsuits, federal government interventions, and of course, get-rich-quick stories. In the famed television show The Beverly Hillbillies, Jed Clampett and his family find themselves the beneficiaries of untold riches after discovering oil on their property. For most mineral rights owners, though, possession of these rights isn’t nearly so romantic—or lucrative.
Continue reading “How Are Oil, Gas, and Mineral Rights Affected by Real Estate Deeds?”Land Registration System in Ohio – The Torrens System
The Torrens System was enacted in Ohio in 1913 and is still used in parts of the state. The original goal of the Torrens System of land registry was to compile all records relating to a parcel on a single certificate as a way to simplify record-keeping. Land registration involves legal fees and court proceedings and thus turned out to be more complex than recorded land, which has made registration unpopular. Currently, the land registry system only operates in a few Ohio counties.
Continue reading “Land Registration System in Ohio – The Torrens System”Real Estate Distribution: Legal Separation vs. Divorce
If you’re contemplating divorce or legal separation, you may be concerned about real estate division, particularly if you’ve invested years of time, energy, and money into your home or other properties. The truth is that there’s no standard procedure for the division of property. Instead, how real estate will be divided depends on where you live. Generally speaking, states take two broad approaches to property division: community property and equitable distribution.
Continue reading “Real Estate Distribution: Legal Separation vs. Divorce”Getting a Real Estate Deed Notarized While Out of the United States
In almost all circumstances a properly executed real estate deed must be notarized to be valid. What happens if a party to the deed, especially the grantor, is somewhere outside of the United States when they need to execute the deed? The most common option is a Notarizing Officer. According to the U.S. State Department, Notarizing officers at any U.S. Embassy or Consulate abroad can provide a service similar to the functions of a notary public in the United States. It is also possible to have a real estate deed notarized by a local foreign notary and then have the document authenticated for use in the United States. In countries that are party to the Hague Apostille Convention, this is a simplified process.
Continue reading “Getting a Real Estate Deed Notarized While Out of the United States”Understanding the Difference Between Recorded Land and Registered Land in Massachusetts
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 declared at the initial proceedings.
Continue reading “Understanding the Difference Between Recorded Land and Registered Land in Massachusetts”Is it Legal to Lie about Marital Status on a Real Estate Deed?
Before answering this question, it’s important to understand why the marital status is included on a real estate deed. There are two primary (and related) reasons: marketable titles and spousal shares.
Disclaiming Inherited Property (Real Estate)
Next Avenue’s article “What to Do When You Inherit Your Parent’s House,” presented three choices: sell the property, rent it, or live in it. However, there is another, perhaps simpler option: disclaim or renounce the house by filing a written disclaimer.
Continue reading “Disclaiming Inherited Property (Real Estate)”California Requirements for Change Of Ownership Interest in Real Property BOE-100-B
Filing Requirement – Change in Control
Revenue and Taxation Code Section 480.1
The law requires any person or legal entity acquiring ownership control in any corporation, partnership, limited liability company, or other legal entity owning real property in California subject to local property taxation to complete and file a change in ownership statement with the State Board of Equalization at its office in Sacramento. The change in ownership statement must be filed within 90 days from the date of the change in control of a corporation, partnership, limited liability company, or other legal entity. The law further requires that a change in ownership statement be completed and filed whenever a written request is made therefor by the State Board of Equalization, regardless of whether a change in control of the legal entity has occurred.
Continue reading “California Requirements for Change Of Ownership Interest in Real Property BOE-100-B”Abstract and Torrens Property (Real Estate) in Minnesota
There are two different ways of owning and indexing real property in Minnesota: Abstract Title and Torrens (Registered). Registered land is more common around the Twin Cities area, while rural counties have more Abstract land. The Torrens System has been used to promote land development, but it is still not widely used in the United States.
Continue reading “Abstract and Torrens Property (Real Estate) in Minnesota”How to Remove a Deceased Joint Tenant from an Arizona Real Estate Deed
The process of removing a deceased joint tenant from an Arizona deed is fairly simple.
When two or more property owners hold title as joint tenants with right of survivorship, and one of those co-owners dies, the surviving owners share the decedent’s interest in the land by function of law, and without the need for distribution through probate.
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