A settlement statement is a document provided three days from closing that details every individual cost related to a real estate transaction.
Real estate agents are licensed professionals who get compensated for representing buyers and sellers in property transactions.
A defeasance clause in real estate is a provision in loan agreements that defines how a borrower can satisfy the lender's requirements in order to release their lien on the property. This clause can vary in its application, depending on whether the loan involves residential or commercial real e...
That said, property management and the legal details of transactions may not sound like fun for everyone. What’s more, a complex commercial real estate investment — the kind that can yield outsized returns — is nearly impossible for an individual investor to carry out on their own. Thank...
What is an estate plan? An estate plan is a series of legal documents outlining how you want your affairs managed after you pass away. An estate plan may address questions and concerns regarding matters like: Guardianship, or who will care for your minor children or special needs dependents...
1099-S: Proceeds from Real Estate TransactionsReports gross proceeds from the sale or exchange of real estate. Also used for certain royalty payments.You sold your home. Due Date to Recipient: February 15 Due Date to IRS: For mailed paper returns, February 28. March 31 if e-filed online ...
4. Do you need a property survey to buy or sell a house? As with many other subjects in real estate, the answer is “it depends.” Some lenders require a property survey if you plan to purchase a home with a mortgage. Otherwise, you might be able to buy a home without one. Howeve...
Legal operations (legal ops) is the combination of business activities, processes, and professionals that enable in-house legal departments to serve their companies more effectively. It encompasses a variety of activities that do not require a license to practice law, such as strategic planning, pro...
The wordestateis colloquially used to refer to all of theland and improvementson a vast property, often some farm or homestead or the historic home of a prominent family. However, in the financial and legal sense of the term, an estate refers to everything of value that an individual owns...
A life estate is a type of legal joint property ownership. The owners have the right to use the property for life under a life estate. The life estate process is typically adopted to streamline inheritance and avoid probate. The life tenant retains all the rights and responsibilities of an ...