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December 22, 2009
A deed is a common document used in real estate transactions to transfer property titles. Real estate deeds must be filed through the local County Recorder's office. They are used to document legal property description, individuals involved in the transaction, and property owner.
When real estate is transferred, a new deed is recorded. The type of deed used depends on the state where property is located, as well as the type of real estate transaction. The most common include: warranty deeds, deed of trust, quitclaim, grant, and deed in lieu of foreclosure. Let's take a brief look at each deed definition.
December 12, 2009
Choosing a family law lawyer can be challenging. Family law encompasses a variety of legal matters ranging from marriage to divorce and adoption to child custody. Some attorneys specialize in one particular niche, while others offer services for a variety of family related matters.
Prior to hiring a family law lawyer it is best to consult with a minimum of three or four legal firms. Most matters pertaining to family law require spending time with your lawyer, so it is important to choose one who suits your personality and possesses the skills you require. Shopping around for a good lawyer can ensure you achieve the results you are seeking.
December 08, 2009
Mortgage notes are used to record the terms of a bank note issued to purchase real estate. These legal contracts document the amount of funds borrowed, interest rate, property location, and contact information for parties responsible for repaying the loan.
Mortgage notes can be sold to cash flow notes buyers or private real estate investors. Many reasons exist for selling real estate notes. The most common include obtaining a lump sum of cash to finance college tuition, pay off credit cards, medical expenses or unsecured debts.
November 10, 2009
A mortgage note is used when individuals purchase real estate by obtaining a loan through a lender. Mortgage notes contain information regarding the real estate transaction such as principal sum, interest rate, length of the note, monthly payment amount, prepayment penalties and stipulations of how the property is to be used; e.g.; primary residence or rental property.
A mortgage note can be sold to mortgage buyers in exchange for a lump sum cash payment. Multiple reasons exist to sell mortgage notes. The most common is to obtain quick cash to get out of debt, college tuition, or use funds for real estate or financial investments.
March 11, 2009
A deed of trust is a legal document used to secure interest in real estate. Some states use trust deeds instead of mortgages. Although these two documents are similar in nature there is one primary difference. With a deed of trust the lender retains the property title until the loan is paid in full. With a mortgage, the buyer holds the title while the lender is provided with a property lien.
Deed of trust mortgages involve three parties and include the borrower, lender and trustee. The borrower is provided with a mortgage loan through the lender and must designate the lender as beneficiary to the legal title. The trustee retains the property title throughout the duration of the loan.