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Estate sales are usually conducted by a professional, for a percentage of the revenues. The liquidator may also charge the estate for the costs to give the sale, including advertising, marketing, research, labor, security, refreshments and other fees incurred in giving a successful sale.
An estate liquidation is similar to an estate sale in that the main concern or goal is to liquidate the estate (home, garage, sheds and yard) with an estate sale organization [1] There is no government regulation of the industry. There is also no formal training for estate liquidators. [2]
Estate in land can also be divided into estates of inheritance and other estates that are not of inheritance. The fee simple estate and the fee tail estate are estates of inheritance; they pass to the owner's heirs by operation of law, either without restrictions (in the case of fee simple), or with restrictions (in the case of fee tail). The ...
“Rather than waiting until the day of the sale, when 100 people are in line and staff is busy running the estate sale, shoppers should call ahead to ask how things work.”
A defeasible estate is created when a grantor places a condition on a fee simple estate (in the deed). When a specified event happens, the estate may become void or subject to annulment. There are two types of defeasible estates: fee simple determinable and the fee simple subject to a condition subsequent.
The type of estate is usually determined by the language of the deed, lease, bill of sale, will, land grant, etc., through which the estate was acquired. Estates are distinguished by the varying property rights that vest in each and determine the duration and transferability of the various estates.
Real estate contingencies provide a way for one or both parties to back out of a real estate contract if certain specified conditions are not met — in other words, the sale is contingent upon ...
Foreclosure by judicial sale, commonly called judicial foreclosure, involves the sale of the mortgaged property under the supervision of a court. The proceeds go first to satisfy the mortgage, then other lien holders, and finally the mortgagor/borrower if any proceeds are left.