To be a valid deed in this state, the document must include the intent to convey property, the legal description of the property, and a signature and acknowledgement of the grantor. There is no standard form for
In New Jersey, a deed used to transfer an ownership interest will be one of several types, including a bargain and sale deed and a quitclaim deed. While these deeds are effective in transferring title, a buyer should be particularly careful since the differences in protection for the buyer ar...
Home Affordable Foreclosure Alternatives (HAFA): Administered by HUD, HAFA provides options for homeowners facing foreclosure, including short sales and deeds-in-lieu of foreclosure. This program helps homeowners transition out of their distressed properties and may create opportunities for buyers to purch...
the recorder of deeds office or the county clerk's office. You can also hire a title company and have them run a title search. And in some places, you cancheck online, according to Colorado foreclosure attorney Amy Loftsgordon.
Often, the borrower is ashamed or afraid to call his or her lender, even though there are actions that could be taken to prevent foreclosure. Lenders often have trouble locating the people in need of advice. The drastic increase in the number of defaults and foreclosures on subprime mortgages...
The redemption period in Idaho, for example, is 14 months, while owners in Iowa have 21 months to redeem their property.56 Tax Deeds vs. Tax Liens Tax liensare similar to tax deeds, with some subtle differences. While tax deeds transfer ownership of the property itself to a new party, ...
Type of Foreclosure In the event of default, a deed of trust will result in different foreclosure procedures than a mortgage. A defaulted mortgage will result in a judicial foreclosure, meaning that the lender will have to secure a court order. Trust deeds go through a non-judicial foreclosure...
A friend has a lot of equity in his house, but it’s almost in foreclosure. It does not make sense to sell right now, as it needs repair. Would an LLC be the best choice to invest in the property with an expected profit when it is sold? I am most concerned with liability, as ...
The positive application of this is as follows: rather than have the board foreclose on the shares—and lose the collateral—a bank will generally pony up the price of the maintenance fees, to preserve its own self-interest, while at the same time instituting foreclosure procedures of its own...
Deed in Lieu of Foreclosure. Correction Deed. Three Common Types of Texas Deeds Although any and all of the deeds listed above can be used in Texas in special circumstances, most of the deeds commonly used are one of three types: