0
What else can I help you with?
What are the different types of deeds available for transferring property ownership?
The main types of deeds for transferring property ownership are warranty deeds, quitclaim deeds, and special warranty deeds. Warranty deeds provide the highest level of protection for the buyer, quitclaim deeds offer the least protection, and special warranty deeds fall in between.
What is the difference between lean vs lien in terms of property ownership and financial obligations?
The difference between lean and lien in terms of property ownership and financial obligations is that a lean refers to a claim against a property for unpaid debts or services, while a lien is a legal right to keep possession of property until a debt is paid off. Essentially, a lean is a type of lien that specifically relates to property ownership and financial obligations.
What is the legal process for transferring ownership of property between NOTE HOLDERS?
Lenders transfer their interest in and rights under the note by executing an assignment of the note and mortgage and then recording that assignment in the land records.
What is the difference between renting a property and having a mortgage?
The difference between renting a property and having a mortgage is that when you have a mortgage you are buying the property.
Is there a difference between co-borrower and co-signer?
Investopedia Says:A co-borrower is different that a cosigner in that a cosigner takes responsibility for the debt should the borrower default, but does not have ownership in the property
What are the different types of deeds available for transferring property ownership?
The main types of deeds for transferring property ownership are warranty deeds, quitclaim deeds, and special warranty deeds. Warranty deeds provide the highest level of protection for the buyer, quitclaim deeds offer the least protection, and special warranty deeds fall in between.
What is the difference between a certificate of title and a title for a property?
A certificate of title is a legal document that proves ownership of a property, while a title for a property refers to the legal right to ownership of the property itself. The certificate of title is a physical document that provides evidence of ownership, while the title is the legal concept of ownership itself.
What is the difference between lean vs lien in terms of property ownership and financial obligations?
The difference between lean and lien in terms of property ownership and financial obligations is that a lean refers to a claim against a property for unpaid debts or services, while a lien is a legal right to keep possession of property until a debt is paid off. Essentially, a lean is a type of lien that specifically relates to property ownership and financial obligations.
What is the legal process for transferring ownership of property between NOTE HOLDERS?
Lenders transfer their interest in and rights under the note by executing an assignment of the note and mortgage and then recording that assignment in the land records.
What is the difference between right of survivorship and tenants in common in terms of property ownership?
In terms of property ownership, the main difference between right of survivorship and tenants in common is that with right of survivorship, when one owner dies, their share automatically goes to the surviving owner(s). In contrast, with tenants in common, each owner can pass on their share to their chosen heirs or beneficiaries in their will.
Why is quitclaim deed required?
Quitclaims (sometimes called "quit claims") are a type of property deed that is easy to fill out and file without the help of an attorney. It is often used between spouses, friends and family members for the purpose of transferring ownership of a property and also identifying exactly who the owner of the property is.
What is the difference between ownership and possession, and how does it impact one's rights and responsibilities in terms of property?
Ownership refers to having legal rights and control over a property, while possession refers to physically having control or custody of the property. Ownership grants the owner the right to use, sell, or transfer the property, while possession gives the possessor the right to physically occupy or use the property. The distinction between ownership and possession impacts one's rights and responsibilities in terms of property because the owner has legal authority over the property, while the possessor may have limited rights and responsibilities depending on the terms of their possession.
What is the difference between tenancy by the entireties and absolute ownership?
Tenancy by the entirety is the way legally married people can hold title to their property. It means that when one dies the other automatically becomes the sole owner of the property. Absolute ownership means that you own the fee interest in the property. You have the right to the use and possession of the property and can leave it to your heirs when you die.
What is the difference between renting a property and having a mortgage?
The difference between renting a property and having a mortgage is that when you have a mortgage you are buying the property.
What is the difference between fee simple determinable and fee simple subject to condition subsequent?
Fee simple determinable and fee simple subject to condition subsequent are both types of ownership in real property that come with conditions. The main difference between the two is in how the ownership can be terminated. In fee simple determinable, the ownership automatically ends if a specific condition is violated, while in fee simple subject to condition subsequent, the owner has the right to reclaim the property if the condition is violated.
What is the economic difference between the terms buy and spend?
With "buying" there's an element of ownership. If I buy a house, I own it. "Spending" doesn't necessarily imply ownership. To continue the housing analogy, I spend money on rent but that doesn't mean I own the property.
Is there a difference between co-borrower and co-signer?
Investopedia Says:A co-borrower is different that a cosigner in that a cosigner takes responsibility for the debt should the borrower default, but does not have ownership in the property
