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A courtesy title is a title that does not have legal significance but is rather used by custom or courtesy, particularly, in the context of nobility, the titles used by children of members of the nobility (cf. substantive title).
Assessed value: The value of real estate property as determined by an assessor, typically from the county. "As-is": A contract or listing clause stating that the seller will not repair or correct ...
The actual sale typically completes a non-judicial foreclosure. The highest bidder at a trustee's sale gets title to the property; if no one bids, the title to the property keeps with the foreclosing mortgage lender. A valid foreclosure requires the following documents to be successful: Record vesting current owner
Development and subdivision of real estate property may occur while its title is under dispute from another party. If a suit is resolved in favor of a plaintiff, this renders uncertain the circumstances that allowed the said development to occur, and may result in the resources invested going to waste. [8] The case of Paxton v.
In American law, a signing agent or courtesy signer is an agent whose function is to obtain a formal signature of an appearer to a document. In common parlance, most jurisdictions require the appearer to sign before a notary public. From this, the practice of a notary public designating themselves as a signing agent has arisen.
The Departement of Justice maintains a register of titles and can deliver decrees of investiture to heirs of titles whose succession has been recognized. This investiture is needed to use a title legally, but many members of former noble families use so-called "courtesy title" without much sanction.
[citation needed] The fact that it comes without any warranties from the government means that the new owner may not have a good title. [citation needed] If in fact, the city did not have a good title or the city could not convey a good title, then the new landowner is unlikely to be successful in obtaining a refund of the purchase price. [4]
Binder – In law, a binder (also known as an agreement for sale, earnest money contract, memorandum of sale, or contract to sell) is a short-form preliminary contract in which the purchaser agrees to buy and the seller agrees to sell certain real estate under stated terms and conditions, usually in the form of a purchase offer, and is ...