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Each U.S. state has a recording act, a statute which dictates the legal procedure by which an individual claiming an interest in real property (real estate) formally establishes their claim to that property. The recordation of property rights becomes particularly significant where an unscrupulous dealer in land purports to sell the same tract ...
Palmyra Island was registered in Land Court in 1912, [6] and land parcels there were subdivided and transferred in that system until 1959, when the rest of the Territory of Hawaii, excluding Palmyra and the Stewart Islands, became the State of Hawaii (Hawaii Admission Act [7]). The Land Court became a state court and lost jurisdiction over ...
A real estate contract typically does not convey or transfer ownership of real estate by itself. A different document called a deed is used to convey real estate. In a real estate contract, the type of deed to be used to convey the real estate may be specified, such as a warranty deed or a quitclaim deed. If a deed type is not specifically ...
This assures grantee there are no legal claims to the property by third parties, and no taxes are owed on the property that would restrict its sale. Some jurisdictions use the warranty deed to transfer real property instead of the grant deed. The warranty deed adds the additional guarantee that the grantor will defend the title against any ...
A deed of reconveyance is a document that transfers the title of a property from the bank or mortgage company to the borrower once they’ve fully paid off the debt. What information is included ...
A quitclaim deed may also be used to transfer title of a property to a purchaser following a foreclosure auction. Typically such a deed will not warrant that the property title is free and clear, and it remains up to the grantee to check that the property is not subject to any legal encumbrances. [11]
The articles of organization document typically includes the name of the LLC, the type of legal structure (e.g. limited liability company, professional limited liability company, series LLC), the registered agent, whether the LLC is managed by members or managers, the effective date, the duration (perpetual by default in most states), and the ...
Annaleine “Anne” Reynolds snapped up some vacant land in Hawaii for about $22,500 at an auction back in 2018. Reynolds planned to create a picturesque oceanview home using sustainable ...
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