| The Deed in a Residential Real Estate Sale |
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| A transfer of land from a seller to a buyer must be accomplished through written documentation in order to satisfy requirements of the Statute of Frauds. Typically, real estate transactions involve many written documents from the offer, which is usually in the form of a contract to purchase, to the deed. More... |
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| Manufactured Homes |
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| In years past, manufactured homes were referred to as "mobile homes," and, in fact, many people continue to refer to manufactured homes as such today. In the year 1980, the United States Congress adopted the phrase "manufactured homes" to describe a type of factory-built home that was required to conform to certain standards developed by the United States Department of Housing and Urban Development (HUD). More... |
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| Procedures in Condemnation Cases |
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| Condemnation is the action of a governmental entity when it takes private property for a public use. When a state takes private land to build, expand, or develop a public highway, that private property is condemned through a judicial process that ultimately transfers the title of the land from the private owner to the state in exchange for the payment of funds that reflect the reasonable value of the land taken. More... |
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| Title Examinations |
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| Al just found out that the offer he submitted to purchase his dream house was accepted by the seller. Al has begun working out the details of his mortgage loan with his lender. The lender advised him that a title examination is required as a part of the closing process.
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| Mortgagee Insurance |
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| Most residential real estate transactions involve a mortgagee. A mortgagee is the financial institution that loans the money to enable the homeowner to purchase the real estate. The mortgagee is a creditor of the homeowner. When the mortgagee lends the funds, it takes back a security interest in the real estate. As a secured creditor, the mortgagee is entitled to protect its interest in the real estate to the extent of the unpaid balance of the mortgage. More... |
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