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A real estate transaction is the process whereby rights in a unit of property (or designated real estate) are transferred between two or more parties, e.g. in the case of conveyance one party being the seller(s) and the other being the buyer(s). It can often be quite complicated due to the complexity of the property rights being transferred ...
It is a valuable tool to identify and document past owners of a property and serves as a property's historical ownership timeline. The "chain" runs from the present owner back to the original owner of the property. In situations where documentation of ownership is important, it is often necessary to reconstruct the chain of title.
In real estate business and law, a title search or property title search is the process of examining public records and retrieving documents on the history of a piece of real property to determine and confirm property's legal ownership, and find out what claims or liens are on the property. [1]
Physical real estate ownership also involves a significant amount of time and expertise. Johnson said, “Additionally, when investing in physical real estate, the properties need to be managed ...
A property abstract is a summary of the legal documents that chronicle transactions associated with a particular parcel of land.Generally included are references to deeds, mortgages, wills, probate records, court litigations, and tax sales—basically, any legal document that affects the property.
Here are 15 real estate terms you need to know. Real Estate Agent Professional who represents the seller (listing agent) or buyer (buyer’s agent) in a real estate transaction.
For real property, land registration and recording provide public notice of ownership information. Possession is the actual holding of a thing, whether or not one has any right to do so. The right of possession is the legitimacy of possession (with or without actual possession), evidence for which is such that the law will uphold it unless a ...
A sale agreement on real estate is legally binding even without registration in the land register, the only requirement being certification of the agreement by a notary. Registration is required, however, in order for the new owner to sell or otherwise transfer the property, or enter a mortgage.
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