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The merger also refers to the doctrine whereby "a fee simple estate, once fragmented into present and future interests, can thereafter be reconstituted. 'Merger is the absorption of a lesser estate by a greater estate, and takes place when two distinct estates of greater and lesser rank meet in the same person or class of persons at the same time without any intermediate estate.' "[1 ...
A bill is a proposal to change, repeal, or add to existing state law. A House Bill (HB) is one introduced in the House of Delegates (for example: HB 6); [ 2 ] a Senate Bill (SB), in the Senate. Bills are designated by number, in the order of introduction in each house.
Home sellers can give themselves an “out” by adding contingencies to the contract that make the sale contingent upon certain conditions. For example, a seller can make the sale contingent upon ...
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 ...
Signed contracts on existing homes dropped a sharp 5.5% in December from the previous month and fell 5% from the prior year, according to the National Association of Realtors. ... state lawmakers ...
In construction contracting, a latent defect is defined as a defect which exists at the time of acceptance but cannot be discovered by a reasonable inspection. [2]In the 1864 US case of Dermott v Jones, the latent defect lay in the soil on which a property had been built, giving rise to problems which subsequently made the house "uninhabitable and dangerous".
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