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Real Estate Law
By HomeSites.Com - Since 1997!
Real estate law: Not for you?
Real estate is indeed one of the safest investments and a lot of people use as an investment avenue. law is not the forte of attorneys and agents only. Every investor should understand at least the basics of law. In fact, a short course or a concise book on law can sometimes be of great help (and is generally sufficient for understanding the basics of law).
What you need to understand is the law with respect to the legal procedures that you need to follow for ensuring a smooth transfer of title to the property you acquire/sell and other related procedures. You need to understand the fee structure (e.g. stamp duty, etc) that you need to take care of as per law. You can also understand the classification of properties and how the basic law applies
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to them. How the commercial and residential properties are treated differently by the law. The tax laws with respect to are one of the things that would be of most interest to you. So, your study on law should also cover all the aspects related to taxes. How mortgages are treated in the perspective of law is another thing that you should know about. Then again, the law with respect to tenancy should also be well understood by people who wish to rent out their property.
However, you should not overdo that i.e. you should not start becoming hysterical about learning law (lest you end up wasting a lot of time in trying to learn everything about law and be left with no time to evaluate your investment). Leave the intricacies of law with the attorneys (and to some extent brokers who too are taught law as part of their course for obtaining broker license).
Understanding the various legal terms referred to in laws can help you in not only enhancing your understanding of but also help in making your conversations with attorneys/agents really fruitful. You should also note that though some of the basics remain the same, the laws vary across various states. Also, laws (especially the tax related laws) can undergo a change over a period of time, so you need to keep a tab on such changes. Any big changes will anyhow appear prominently in news and you will get to know of them anyhow.
So knowing a little bit of law can really be helpful (and is, in fact, essential).
HomeSites.Com has been delivering comprehensive real estate and loan information to both home buyers and home sellers since 1997! For all of your real estate needs, access HomeSites.com!
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Tax implications of Quit claim deed
What are the tax implications of a Quit Claim? Who pays the property tax?
Thank you.Can quitclaim deed transfer mortgage debt?
A friend of ours is having financial difficulties and is behind in his house payments, he is wanting to do a Quit Claim Deed transfer to us and we would take over the house payments to bring it up to date and finish paying for it. Are there legal complications in doing this since he still owes money? Should we go to the bank instead?How foreclosure affects your credit score
If you were quit claimed on to a property and are not on the loan. If the property get foreclosed on will this effect your credit? Will a forecoseure show up on your credit report? And how do you find out if the other person on the title who does carry the loan has missed payments and may be near a default?Mobile home loans - How to qualify and what are the options?
If you're a home buyer looking for housing options other than traditional site built houses which cost you more, then mobile/manufactured home may be the right choice for you. Mobile homes are first built in factories and then taken to the site where it may or may not be given a permanent foundation. There are 2 options when it comes to financing your mobile home. Check out the financing options and the topics as given below:
Types of mobile home loansCan quit claim remove name from title?
I was married for 8 yrs and separated now for 4 but not officially divorced yet. My ex hubs purchased a condo 3 months before we got married and I had nothing to do with any paper work or any involvement with the condo. We lived in it for 8 yrs and I left 4 yrs ago due to an unhealthy and verbal abusive environment. I left everything but by cloths and started a new life. Now after 4 years of being separated he wants me to sign a quit claim deed because he wants to sell the condo. What I don...
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