See also: Real estate sale deed: Terms and conditions that home buyers should be aware ofImportant things about conveyance deedThe seller is required to certify that the property is free of any legal encumbrance. If a loan was taken against the property in question, then, the mortgage must ...
In other cases, state conveyance tax rates vary based on the value of the property transferred. For example, the tax rate for residential real estate in Connecticut is 0.75% on transfers worth less than $800,000, but it increases to 1.25% for amounts that exceed that threshold. To illustra...
Understanding Voluntary Conveyance Voluntary conveyance, like any sale of real estate, is a form of voluntary property transfer. Voluntary conveyance is distinguished, however, by the lack of adequate consideration given to the seller. Consideration is a legal term that refers to the compensation given...
Property conveyance law can get extremely complicated in some regions of the world. Real estate is a major purchase, sometimes the largest purchase someone will ever make, and there are a number of details to cover, from contingencies allowing people to back out of a deal if there is a prob...
2) A real estate deed in which two parties agree to continuing obligations; for example, one party may agree to maintain the property and the other to make periodic payments. How do I get a conveyance deed? You can get a legally certified copy of theconveyance deed from the sub-registrar...
Crispety- I wanted to add that a life estate is yet another real property conveyance that allows the person holding the life estate the ability to live in the property for life. Upon the death of the person with a life estate, the property would be willed to another family member. This...
Crispety- I wanted to add that a life estate is yet another real property conveyance that allows the person holding the life estate the ability to live in the property for life. Upon the death of the person with a life estate, the property would be willed to another family member. This...
In the real estate world, the document that used to be called a settlement statement has evolved over time into what is now known as a closing disclosure. However, many still use the term, so you might come across it in the process of closing your mortgage loan. A settlement statement ...
description is the property's street address or legal desription, the deed will be valid as long as the particular property being conveyed is clear. A conveyance of "the 10 acres I own in Marin County, California" will be valid as long as the grantor owns no more than 10 acres in that...
If the existing owner will continue to own the property after the conveyance, see our discussion of Unities of Title and Strawman Conveyances in our article ofHow to Add a New Owner to the Title Deed to Real Estatefor more information. ...