Tag: real estate law
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The Burnt Records Act and the Fiery History of the Chicago Title Company
The Great Chicago Fire broke out in October 1871. It raged for two dark days, and destroyed much of the city. It didn’t spare the building that housed Cook County’s deed records. It also burned up many original records stored in Chicago homes. The Chicago Tribune has said that the destruction and re-creation of property…
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Can Co-Owners Use a Transfer on Death Deed for Real Estate?
Can co-owners plan to pass a home along using the revocable transfer on death deed (TODD)? Yes. If your state recognizes the TOD deed (also known simply as TODD) for real estate, there will be an official state form. Alternatively there will be a sample included in your state’s law, which you can look up.…
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Conservatorship? Guardianship? What Do They Mean for Senior Deed Transfers?
For a lifelong couple, the day comes when one partner starts to focus intently on the well-being of the other. Before then, it’s important for a couple to document their plans and wishes. But how will they transfer the jointly held deed to their home, when one of them loses the capacity to do so?…
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Dividing the Deed: Pennsylvania Follows New Jersey Into Partition Law Reforms
Pennsylvania deed holders who die without a will leave their homes to be passed on in court. In some cases, by the time someone in the family line resorts to the court system, heirs have scattered near and far. The heirs could lose land to corporations — land that belonged to the generations. New Jersey…
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Deeds in Disarray: Untangling Titles Passed Down Informally
When homes are passed down without a will, legal ownership can become questionable. Claims to the title can tangle. This happens most often in households of modest income (many who couldn’t afford probate). Loss of the home title, of course, pushes families into still harder situations. Indeed, a number of factors could keep households from…
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Connecticut Beats Down Zombie Mortgages
What if you survived the foreclosure crisis back in 2008…and all of the sudden, now, a bank turned up and told you it’s time to pay back the balance related to a second lien that you thought was written off, a loan you never repaid? This is no joke. As home values soar, lenders and…
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Could Ohio Make Property Taxes Unconstitutional? Should It?
Ohio Attorney General Dave Yost’s office has received a proposal to insert a new Section 14 into Article XII of the Ohio constitution. This proposed amendment seeks to abolish current and future real estate taxes. For many months, Ohio’s Butler County and Hamilton County deed holders have been pressing state lawmakers to expand property tax…
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Racially Restrictive Covenants: Island County, WA Recommends New Resolution
Leaders in Island County, in Washington State, hope to adopt a resolution for atonement. The resolution will officially apologize to those people and households kept out of the county by race-based deed restrictions. A deed restriction that “runs with the land” stays on the property if the deed changes hands. Once a home was marked…
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Quitclaim Deeds and Senior Homeowners: Convenience with Caution
When someone wants to know which kind of document makes it easy to pass real estate ownership, the quitclaim deed comes to mind. Convenient? You bet. And quite often, this convenient document is the senior’s deed of choice. This is because so many seniors decide, at some point in their lives, to transfer their homeownership…
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Hey, Back Off! When an Encroaching Neighbor Wants a Piece of Your Property
So, the folks next door did some landscaping. And you’re pretty sure it crossed your property line. Maybe they built a shed over the boundary. Maybe they’re using a part of your land to park equipment, or to drive over. In some cases, the encroachment isn’t obvious. Then the deed holder wants to build a…
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What’s “Undue Influence” in the Transfer of a Deed? Massachusetts Appeals Court Speaks
A homeowner transfers a deed. But someone else in the deed transferor’s circle isn’t too happy about who got it. Was the deed transfer fair? Yes, it was, if that’s how the owner wanted to pass property along. Of course, that assumes that the person signing the deed away knows the property’s value, and the…
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Older Adults, Look Out for These Two Common Deed Bloopers
What are the most common fumbles older adults make with deeds? Let’s take it from the top.
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Was Your Seller Inspired by Pinocchio? Buyer Remedies for False Disclosure Statements
In a recent survey, more than half of sellers admitted to not disclosing a known problem with their property. Although this is just one survey, the point bears noting. Buyers should probably expect to find issues with their homes. A home buyer can sue over a material defect that wasn’t disclosed by the seller.
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When Lien Holders Demand Repayment: Who Has the Most to Gain by Foreclosing?
If you own a home, you can use it as collateral and borrow money. The lenders may then place liens on your title, representing that money you have to repay. The classic example involves taking out a mortgage against the value of a home you want to buy. You must repay the home loan, or…
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The Fine Was Unfair. Can the Association Put a Lien on My Condo and Drive Me Out?
Got HOA questions? You’re not alone. Nearly one in three deed holders today live with a homeowners’ association (HOA). Most new houses, along with traditional condo properties, are developed for associations. HOAs have authority to fine those who defy their rules. Ignore these fines, and you might find a lien on the title one day.…
