Can You Disclaim an Inheritance?
You might wonder why someone would turn down an inheritance, but it happens and often for good reason. Refusing to accept an inherited asset is known as disclaiming. An heir might disclaim an inheritance in several situations. Here’s how you can disclaim an inheritance if you need to. Why would you disclaim an inheritance? An […]
Why Is Title Insurance Important?
When you close on the purchase of a new home, you’ll be issued a title insurance policy. What is title insurance, and why is it so important for you to have it? What is title insurance coverage? Title insurance protects you against any disputes over the ownership of your home after your purchase it. Your […]
What Does it Mean to Have Clear Title?
Having clear title to a property is a crucial part of any transaction between buyers and sellers. What does it mean to have clear title, and why is it important? Definition of clear title A clear title in real estate means that the owner has unrestricted ownership of a property. The property is not subject […]
Seller Responsibilities to Close a Home Sale
The moment a sales contract is signed, the clock begins ticking for both buyer and seller to fulfill contractual obligations. The seller must provide important documents to the buyer. Many, but not all, of these items, are procured by the title company or attorney hired to facilitate the transaction. Items the seller provides. A title […]
Brush Up on Your Legal Terminology to Secure Your Property Rights
When you buy a home you may expect that you have complete freedom to do what you want with the property, that’s likely not the case. You will probably discover an encumbrance, or limitation, legally imposed upon you regarding its use. In other words, an encumbrance is any claim or interest held by someone other […]
The Importance of Property Surveys
An accurate survey is a crucial step in your home-buying process, making sure you don’t encroach on a neighbor’s property — or vice versa. A mistake in the survey can cause legal problems later. Here’s what you need to know now to avoid problems later. Location, shape and size. A survey will show a sketch […]
Real Estate 101: What Does a Title Company Do?
One of the biggest players in any real estate transaction is the title company. The title company serves multiple roles, all of them crucial to the closing process. Primarily, title companies exist to protect the parties involved, particularly the buyers and their mortgage companies. Here is what you need to know. A title company issues […]