May 30, 2009

Probate Courts

Probate courts were established over 200 years ago to handle legal matters governed by equity law. The primary difference between equity law and civil matters is that equity cases involve entering decrees which direct someone to act or refrain from acting.

Probate courts focus on life matters that do not involve monetary awards. The most common cases heard in probate courtrooms include inheritance, estates, trusts, guardianship and conservatorships. Probate laws vary by state, city and county. Most cases require the assistance of a probate attorney.

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May 28, 2009 | Comments: 2

File Bankruptcy

In order to file bankruptcy debtors must follow established protocol set forth in the U.S. Bankruptcy Code. In 2005, Congress enacted new bankruptcy laws, making it much more difficult to file. Few people can undergo the process alone and will require the services of an attorney.

When people file bankruptcy they must undergo the 'means' test; a financial tool that determines how much debt must be repaid. The Bankruptcy Abuse Prevention and Consumer Protection Act require debtors must repay a portion of debts unless they earn less than their states' median income level.

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May 26, 2009

Real Esates

'Real esates' is a common misspelling for 'real estate'. Both spellings refer to real property or raw land used for housing, commercial buildings, farming or ranching. In reality, Earth is one gigantic ball of real estate opportunities!

Today, people are leery of investing in real esates. It's no wonder. With housing prices dropping at unprecedented rates, sellers are reluctant to sell their properties because most of them would take a financial loss.

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May 24, 2009

Probated

The term, probated, refers to estates held in probate. This process is used to determine the value of assets owned by a person who has died and validate their last Will. An estate administrator is designated within the Will and is responsible for overseeing the estate and handling numerous duties.

Strategies exist to prevent estates from being probated. These measures must be taken prior to death. Most are quite simple and can be accomplished without the assistance of an estate planner. Others require the execution of legal documents and require the services of a probate attorney.

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May 22, 2009

One Rate Real Estate

One rate real estate is an excellent option for individuals who desire a fixed rate of return on investments. The process is relatively simple; however it is imperative to work with a reputable real estate investor who possesses a solid track record in flipping houses.

There are four steps to one rate real estate investing. The first step involves locating a private investor. This can be accomplished by asking friends, relatives, neighbors or co-workers for a referral or by conducting research via the Internet.

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May 20, 2009

First Time House Buyer Tips

First time house buyer tips help individuals make informed decisions about their real estate purchase. Real estate polls suggest people are at least beginning to think about buying a house. Most people realize prices will eventually start going back up and are planning their strategy of when to buy.

Today, I'm happy to share the following first time house buyer tips and hope you find them beneficial. This post focuses on the required steps for buying houses and what you can expect along the way.

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May 18, 2009

California Probate Attorney

A California probate attorney is generally required to handle estates of residents who have died. Probate is the legal process used to establish a value of the decedent's estate. It is also used to validate the decedent's Will or appoint an estate administrator if the decedent died intestate (without a Will).

Individuals can hire a California probate attorney to help establish estate planning or to assist them in settling an estate entered into probate. Many people procrastinate about estate planning; particularly when they are young and in good health. However, this is a huge mistake that could cause their family tremendous hardship.

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May 16, 2009

Bankruptcy Confirmation

Bankruptcy confirmation hearings are required when debtors file for protection under chapter 13. Also known as 'reorganization', this bankruptcy chapter requires debtors to submit a repayment plan to the judge. The confirmation hearing is required to determine if the repayment plan adheres to regulations set forth in the United States Bankruptcy Code.

The bankruptcy confirmation typically occurs within 45 days after the 341 creditors meeting. This meeting allows creditors to question the debtor regarding their ability to repay outstanding debts. Information is provided under oath. If the debtor provides falsified information they could potentially face jail time and are certain to have their bankruptcy request denied.

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May 14, 2009 | Comments: 1

Quick Money in Real Estate

Make quick money in real estate is the claim of real estate gurus trying to sell seminars or home study courses. Yes, there is money to be made in the realty business. There are several ways to make quick money in real estate. You don't need to pay a lot of money to learn them.

Making quick money in real estate is possible if the investor does their homework. Due diligence can mean the difference between success and bankruptcy with each property purchased. Starting with the proper foundation is more important than how quickly you make money. Investing in solid properties will help you make money in the long term not just quick money in real estate.

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May 12, 2009

Bank Owned Property

Bank owned property refers to foreclosure real estate that has been returned to the lender. When homes fall into foreclosure they are placed for sale through public auctions. If no one bids on the property it is given back to the bank. At this stage, the property is referred to as real estate owned, or REO, property.

Bank owned property can consist of houses, condos, manufactured homes, mobile homes, commercial properties or raw land. REO properties are sold through each lender's loss mitigation department. Many lenders present bank owned real estate via their company website. Others retain the services of a realtor who specializes in distressed properties.

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May 10, 2009

Realty

Realty consists of all types of real estate including homes, apartments, condos, commercial buildings, retail space and raw land. Real estate investors can choose to focus on one particular niche or develop a diverse portfolio consisting of several types of investment properties.

Realty is a complex game. Successful investors need to become educated about all facets of this multi-dimension business. While real estate investors do not need to have a Masters Degree in all areas, they would be wise to obtain a basic education and form a team of expert consultants.

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May 08, 2009

Contract for Deed

Contract for deed is a real estate technique used when sellers finance all or part of the mortgage loan. The seller executes a contract which details the terms of the sale. Both the seller and buyer must sign the contract and have it notarized in order for it to be legally binding. The seller retains the property deed until contract terms are fulfilled.

The most common uses of contract for deed include lease-to-own, land contracts, and seller carry back mortgages. While contract for deed has been used for decades, this type of financing has become quite popular in recent months.

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May 05, 2009

California Probate Lawyer

A California probate lawyer is an integral part of estate planning for residents of the Golden State. Probate is the legal process used to determine the value of estates and to properly distribute assets to heirs and beneficiaries. California probate code is complex; consisting of eleven divisions and hundreds of pages of legal jargon.

California probate lawyers specialize in helping individuals develop estate planning strategies. Some strategies can keep assets out of probate while others reduce or eliminate inheritance taxes. Probate attorneys can help individuals establish payable-on-death and transfer-on-death beneficiaries for investment and banking accounts, automobiles, motorcycles, boats, recreational vehicles, real estate holdings and businesses.

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May 02, 2009

California Estate Planning

California estate planning allows residents to establish healthcare directives and retain control of assets in the event of their death. Estate planning outlines who will be in charge of administering the estate and which heirs will receive assets.

California estate planning is no different than establishing protocols in any other state. The only difference is California residents must adhere to established probate laws. Probate is regulated on a state-by-state basis. The primary difference between states is the amount which determines what constitutes a 'small estate.

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