All Posts Tagged With: "deed"
What’s A Private Transfer Fee In Real Estate?
Usually when we think of a real estate sale we think that the interest of the seller ends with closing. It is, after all, called “closing” for a reason. Now, however, some sellers are trying to maintain a financial interest in a property for decades after it’s been sold, not with a mortgage or a [...]
12Jul2010 | Peter G. Miller | 2 comments | Continued
How To Get A Successful Loan Modification (With Obama Update)
Is it possible to get a mortgage modification without being foreclosed or behind on your payments? For an increasing number of borrowers the answer is “yes” because recent changes in the mortgage industry now make loan modifications more likely than at any point since the financial meltdown began. For much of human history mortgage lenders [...]
22Jan2009 | Peter G. Miller | 8 comments | Continued
Can A Discriminatory Deed Be Enforced?
Deeds often reflect the societal attitudes common at the time they were drawn up — sometimes decades and even centuries ago. Such language is not enforceable today, it is “merely” objectionable. Why is discriminatory deed language not enforceable? Because in 1948 the Supreme Court in Shelley v. Kraemer ruled that such deed restrictions could not [...]
29Aug2008 | Peter G. Miller | 0 comments | Continued
What Are The Pros & Cons Of A Land Contract?
A land contract may allow a buyer to obtain real estate even if he or she is not currently able to obtain financing through regular loan channels. A land contract may allow a seller to market a property when interest rates are high or markets are weak. If a buyer with limited financial capacity purchases [...]
28Aug2008 | Peter G. Miller | 0 comments | Continued
Can I Get A Mortgage For A Mobile Home?
In 1976, the Department of Housing and Urban Development (HUD) began to regulate mobile homes. One benefit of such regulation is that mobile home standards have improved over time, something which makes them more attractive to lenders — and owners. That said, a mobile home may or may not be real estate. In some states [...]
28Aug2008 | Peter G. Miller | 0 comments | Continued
What’s a “quitclaim” deed?
A quitclaim deed is evidence that whatever rights someone has to a given property have been given to someone else. For instance, I can give you a quitclaim deed to the Brooklyn Bridge. This means all my claims and rights to the bridge now belong to you. Don’t celebrate — I have no claims or [...]
27Aug2008 | Peter G. Miller | 0 comments | Continued
Will a quitclaim deed end my obligation to re-pay a loan?
In general terms, a quitclaim deed is a device used to transfer title without guarantees. However, if Smith owes $100,000 to a lender and transfers title to Brown with a quitclaim deed, Smith’s obligation to the lender does not end. Smith still owes $100,000 — but now Smith no longer has title to the property. [...]
27Aug2008 | Peter G. Miller | 0 comments | Continued
What’s a “special” warranty deed?
With a “special warranty deed” an owner says that he or she owns the property but does NOT make any guarantees about prior title claims and does NOT say the property is free and clear of all liens. Example: I will sell you my home but I can’t tell you if there are any prior [...]
27Aug2008 | Peter G. Miller | 0 comments | Continued
Is a timeshare considered a real estate investment?
The purchase of a deeded real estate timeshare is best seen as an alternative to future vacation costs. A timeshare is rarely an investment, and some “timeshare” interests are not even deeded real estate — they are, instead, club memberships, vacation licenses, and vacation leases lasting as long as 40 years. Most timeshares are financed [...]
26Aug2008 | Peter G. Miller | 0 comments | Continued
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