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What makes a property interest compensable in legal terms as it relates to a taking?
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What is the term for the person to whom real property is transferred?
When the transfer is by deed or grant the recipient is called the grantee.An interest in property can also be transferred by will, by intestate succession, by a court order, by a tax taking and by an eminent domain taking.
What can happen to you if you are behind on paying your property taxes?
If you are in default on your property taxes the municipality can record a tax taking against your property and commence an action to take possession of your property. Even if you pay up at that point there will be costly fees, interest and charges added to what you originally owed.
What is the law about property taxes and when are they due to be paid?
Generally: The law is that if your property taxes are not paid on time a penalty or interest begins to accrue. IF the default continues the government can take possession of the property by a tax taking and foreclosure procedure. Your land can then be sold to a new owner.
Why do property loans generally have lower interest rates than credit cards?
Credit cards can be given to almost anyone whereas property loans tend to be tested more, and therefore are given to fewer people. Taking out a credit card is almost like taking out a loan, you are borrowing 'credit' from the bank and therefore they expect that you may not have the immediate funds to pay it back. Also, property loans tend to be a lot longer and therefore the provider will still receive a large amount of interest over a much longer period of time.
What is escheatment?
Historically, under feudal law when a land tenant died without heirs the land would escheat back to the lord. Today when a person dies with no heirs their property escheats to the state. If a legitimate heir comes forward later with proof of their relationship they can claim the property. The state has no interest in taking property from rightful heirs.
Your name is on the mortgage and deed your son lives in the house it is going to foreclosure and he is going to sell what are your rights?
Your son can only sell his own interest in the property if you are a co-owner. However, he will have trouble finding a buyer for his interest because the bank is taking possession of the property by foreclosure. His selling of his interest would not stop the foreclosure unless his buyer paid all the outstanding debt on the mortgage. If he did find a buyer the buyer would become a co-owner with you. He cannot sell your interest. The foreclosure will affect your credit record as well as his.
What are the characteristics of an insurable risk?
The essence of an insurable risk is essentially one in which the person or entity insured has an "insurable interest". This means, that the insured must have a reasonable expectation of advantage, usually monetary, from the continued existence of the property or life insured. It need not be an ownership interest. For example, a spouse who did not have an ownership interest in her husband's car, but who had the right to use the car, would have a sufficient insurable interest in it to support a contract of insurance. The lack of an insurable interest makes an insurance contract essentially a gambling contract--because the person taking out the insurance really has nothing to lose if the property insured is destroyed.
Can an intern give patient info to another intern?
If it relates to that patients care, or if (He/She) is taking care of that patient.
Can a co-signer take the property without permission?
No, a co-signer does not have ownership rights to the property unless stated in the agreement. Taking the property without permission would generally be considered a violation of the co-signing arrangement and potentially illegal.
Is a bond for title the same as quit claim deed?
Absolutely not. A quitclaim deed transfers the owner's interest in real property to a new owner.A bond for title is a contract by which the owner agrees to transfer the property to the buyer after the buyer makes all required regular payments over a certain period of time. During that time the owner retains title to the property and the buyer has little legal protection for the funds they have paid over. The land contract is a way for the seller to avoid transferring the property and taking back a mortgage.Absolutely not. A quitclaim deed transfers the owner's interest in real property to a new owner.A bond for title is a contract by which the owner agrees to transfer the property to the buyer after the buyer makes all required regular payments over a certain period of time. During that time the owner retains title to the property and the buyer has little legal protection for the funds they have paid over. The land contract is a way for the seller to avoid transferring the property and taking back a mortgage.Absolutely not. A quitclaim deed transfers the owner's interest in real property to a new owner.A bond for title is a contract by which the owner agrees to transfer the property to the buyer after the buyer makes all required regular payments over a certain period of time. During that time the owner retains title to the property and the buyer has little legal protection for the funds they have paid over. The land contract is a way for the seller to avoid transferring the property and taking back a mortgage.Absolutely not. A quitclaim deed transfers the owner's interest in real property to a new owner.A bond for title is a contract by which the owner agrees to transfer the property to the buyer after the buyer makes all required regular payments over a certain period of time. During that time the owner retains title to the property and the buyer has little legal protection for the funds they have paid over. The land contract is a way for the seller to avoid transferring the property and taking back a mortgage.
Should a parent add their child to property deed to avoid probate in Michigan?
You should consult with an attorney before taking that step. As for a minor child, see the related questions link. Regarding an adult child, you should be aware that once you convey an interest to the child it will be their property and subject to their creditors.
Wrongful taking away of anothers property by a person who has been entrused with that property?
embezzlement
