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When you look at your house and yard, you're fairly confident you know your property lines. Now imagine being so wrong about your property lines that your house is built on the completely wrong ...
Service line coverage: Service line coverage is an endorsement that covers utility pipes, like water and sewer lines, if they cause damage to your home. This endorsement may be beneficial, as ...
Taxes: The monthly property taxes built into the house payment, often termed an impound or escrow account. Insurance: The amount of the mortgage payment going toward hazard/fire insurance ...
A unit of real estate or immovable property is limited by a legal boundary (sometimes also referred to as a property line, lot line or bounds). The boundary (in Latin: limes ) may appear as a discontinuation in the terrain: a ditch, a bank, a hedge, a wall, or similar, but essentially, a legal boundary is a conceptual entity, a social construct ...
The property tax most citizens are aware of is known as an ad valorem tax. This tax is used to fund general or day-to-day government operations. An ad valorem tax is commonly levied on both real and personal property. A property tax is based upon a property's market value.
Drainage law is a specific area of water law related to drainage of surface water on real property. It is particularly important in areas where freshwater is scarce, flooding is common, or water is in high demand for agricultural or commercial purposes.
Key takeaways. A property survey legally defines the boundaries of a plot of land. Mortgage lenders and/or title companies may require one when you're buying a house.
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