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June 11, 2009
Probate Wills
Probate wills are legal documents which detail information about a decedent's estate. A Will includes the name and contact information for the person who will be responsible for handling the estate, a list of assets owned by the decedent, and the individuals who will receive those assets.
Also known as the Last Will and Testament, probate wills are submitted to the local courthouse in the decedent's place of residence. Every Will must be validated to ensure it abides by probate laws and is legally-binding. Certain steps must be followed before distribution of assets can occur.
Real Estate Investing article on "Probate Wills"
June 09, 2009
California Real Estate Investing
California real estate investing used to be reserved for the rich and famous. Today, the Golden State investing game has become a level playing field. From newbie investors to seasoned professionals, California offers real estate deals for everyone.
California real estate investing could very well become the next gold rush. With thousands of foreclosure homes on the market, housing prices have dropped as much as 30-percent in some areas.
Real Estate Investing article on "California Real Estate Investing"
June 05, 2009
Short Sale Real Estate Investor
Short sale real estate is property that has been sold for a lesser amount than the balance due on a mortgage note. This type of real estate transaction occurs when a homeowner is no longer able to fulfill their mortgage obligation and defaults on their loan. In order to stop foreclosure, the lender can elect to allow the homeowner to sell the home for less than is owed on the loan.
Typically, lenders only engage in short sale real estate when the current market value is less than the loan on the property. Short sales are only available to homeowners who have no equity in their home and owe more than the property is worth.
Real Estate Investing article on "Short Sale Real Estate Investor"
June 01, 2009
Life Insurance Trust
A life insurance trust is used to protect insurance proceeds from estate taxation. Beneficiaries are designated within the policy and distribution schedules are established. The life insurance policy is placed inside the trust and managed by a Trustee.
A life insurance trust consists of a Trustor, Trustee and beneficiaries. The Trustor is the person who establishes the trust. The Trustee is the person who manages the trust. This person is designated through the policyholder's Will.
Real Estate Investing article on "Life Insurance Trust"
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.
Real Estate Investing article on "California Probate Attorney"
May 14, 2009
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.
Real Estate Investing article on "Quick Money in Real Estate"
April 10, 2009
Investors Who Buy Homes
Investors who buy homes range from the average Joe to real estate gurus such as Donald Trump. Their reasons for buying houses are as varied as their personalities. Some investors focus on purchasing homes to be used as rental properties. Others engage in rehabbing distressed properties and flipping them for profit.
Investors who buy homes for a living must be well educated in all facets of real estate. Professional investors have an established team of experts including realtors, brokers, real estate lawyers, mortgage lenders and other investors
Real Estate Investing article on "Investors Who Buy Homes"
March 21, 2009
Probate Personal Representative
A probate personal representative is responsible for overseeing administration of an estate held in probate. When a person dies everything they own is transferred to probate and held until the estate is closed. During probate the personal representative must obtain property appraisals, pay outstanding debts and distribute assets to designated beneficiaries.
The position of probate personal representative requires good money management skills and the ability to mediate with family should disputes arise. Individuals appointed to this position must be at least 18 years of age and never convicted of felony offenses.
Real Estate Investing article on "Probate Personal Representative"
March 19, 2009
Probate Liquidators
Probate liquidators refer to companies that purchase assets held in probate. This can be a valuable service for estate executors because it allows them to sell assets for cash. This money is used to pay off outstanding debts associated with the estate and allows for ease of distribution to creditors and intended beneficiaries.
The sooner assets are sold to probate liquidators, the better. Estate assets are held in probate for an average of three years. During this time assets depreciate, while attorney fees and probate costs escalate. By selling probate assets at the onset of probate, the estate receives more money and can reduce the duration of the probate process.
Real Estate Investing article on "Probate Liquidators"
March 03, 2009
Selling House for Cash
Selling house for cash is a term used by real estate investors who purchase distressed properties with cash instead of traditional financing. Unfortunately, banks are suffering from credit constipation; making it increasingly difficult for buyers to qualify for mortgage loans. For many buyers, the only way they can purchase a home is if they have a wad of cash in hand.
Selling house for cash can expedite the transaction because the buyer does not have to obtain pre-qualification from the bank. There are no stacks of finance papers to sign and no unexpected setbacks. In many cases, buyers can take possession of the property in weeks instead of months.