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“This document is called a mortgage satisfaction or deed of reconveyance depending on the state,” says Megan Hernandez, director of Marketing and Public Relations at the American Land Title ...
A private transfer fee covenant [1] is a legal instrument that is filed in the real property records, which imposes an assessment payable in connection with a series of future transfers of title to certain real property.
In the majority of states, property owners can perform a lien search by providing the property address to the county recorder, clerk or assessor’s office. You might need to pay a nominal fee to ...
In law, conveyancing is the transfer of legal title of real property from one person to another, or the granting of an encumbrance such as a mortgage or a lien. [1] A typical conveyancing transaction has two major phases: the exchange of contracts (when equitable interests are created) and completion (also called settlement, when legal title passes and equitable rights merge with the legal title).
If repaid on time, the lender would reinvest title using a reconveyance deed. This was the mortgage by conveyance (aka mortgage in fee) or, when written, the mortgage by charter and reconveyance [8] and took the form of a feoffment, bargain and sale, or lease and release. Since the lender did not necessarily enter into possession, had rights of ...
Pros of buying a family member’s home. Commission savings: If you and a trusted family member agree to a sale, you might be able to eliminate the need for real estate agents.Considering that the ...
A deed of trust refers to a type of legal instrument which is used to create a security interest in real property and real estate.In a deed of trust, a person who wishes to borrow money conveys legal title in real property to a trustee, who holds the property as security for a loan from the lender to the borrower.
This is a deed "for which the grantor implies to have or have had an interest in the property but offers no warranties of title to the grantee." [2]Under common law, this type of deed technically created a use in the buyer who then gets the title. [3]
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