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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 ...
Torrens title is a land registration and land transfer system, in which a state creates and maintains a register of land holdings, which serves as the conclusive evidence (termed "indefeasibility") of title of the person recorded on the register as the proprietor (owner), and of all other interests recorded on the register.
A famous rule is that a thief cannot convey good title, so title searches are routine (or highly recommended) for purchases of many types of expensive property (especially real estate). In several counties and municipalities in the US a standard title search (generally accompanied by title insurance ) is required under the law as a part of ...
The lessor can do the title transfer paperwork on your behalf, but it may charge you a processing fee. The lease buyout title transfer process is similar to a private- or third-party vehicle purchase.
A gift, in the law of property, is the voluntary and immediate transfer of property from one person (the donor or grantor) to another (the donee or grantee) without consideration. There are several type of gifts in property law, most notably inter vivos gifts which are made in the donor's lifetime and causa mortis (deathbed) gifts which are ...
A real estate license must be obtained from the DRE in order to engage in the real estate business and to act in the capacity of a real estate broker or salesperson within the State of California. Before applying for a license, all education and experience requirements mandated by the Department must be fulfilled. [ 5 ]
The Land Registry has been dealing with the registration of all transactions (purchase, sale, mortgage, remortgage and other burdens) concerning registered land since 1892, and issued land certificates which are a state guarantee of the registered owner's good title up to 1 January 2007. Land Certificates have been abolished by virtue of ...
Real estate transfer tax can be appointed by the authorities of state, county or commune when a real estate property is being transferred within a certain jurisdiction. Subjected to the tax is usually the act of transfer of legal deeds, certificates and titles to a property that are being shifted between the seller and the buyer.