A property deed serves as a public record of who owns a home or land, so it’s a key document when it comes to legal matters concerning the property. If an ownership dispute arises, for example, you may be able to resolve it by simply confirming the name on the deed. It’s also ...
If the deed includes the following covenants, they protect the grantee (buyer) against harm.Covenant of quiet enjoyment – a pledge that there are no outstanding warranties from third parties that would inhibit the grantee’s use of the property. It allows the buyer to seek redress (file suit...
What about my property taxes? Under the revenue and taxation code, the California State Board of Equalization states that after a disaster such as a fire, earthquake or flooding damages or destroys your property, you may be eligible for property tax relief if...
Even though a living trust owns the property you transfer to it, you will continue to be taxed personally on the income generated by these assets if it’s revocable. And while there can be some estate tax and income tax benefits of a living trust after you pass away, depending on how i...
If you have paid everything off, it will verify that as well. A deed of reconveyance: This is a lien release confirming that your mortgage company no longer has a legal interest in your property. Escrow funds: If there’s any money left in your escrow account once your mortgage is ...
property. They thought Prickles had died in the fire[3]But instead, the young sheep escaped into a 200-acre forest near the fire.[4]Once the fires were over, the family had to fix the damage done to the farm as it was such a large property. This included rebuilding about 50 kilo...
A warranty deed is a guaranteed property tranferrance. When a person owns property, particularly real estate, protecting and maintaining that property is a primary concern. Such things can become especially important if a person decides to sell or bequeth his home upon his death. The transferring...
Where should I begin? Start by deciding on a budget and what type of property you’re looking for. Then check which areas have listings in your price range. How do I find a real estate agent? Look for estate agents who are registered with RERA, have a physical address and office phone...
You can't refinance, sell, or alter title to the property without the remainderman's permission if you have a life estate on the property. Who Owns the Property in a Life Estate? The property is owned by all designated parties in a life estate deed but the life tenant retains the right...
However, there are downsides to a property trust. Firstly, if you purchase the property under a land trust, any redemption rights are lost—that is, the right to reclaim the property just before (or after) foreclosure. Second, most land trusts are automatically disqualified from secondary market...