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If annual fees for a land trust are not paid, the trust may face financial difficulties, which could jeopardize its ability to manage and protect the property. In some cases, the trust may impose penalties or interest on the overdue fees. If the fees remain unpaid for an extended period, the land trust could initiate legal action, potentially leading to foreclosure or loss of the property. Ultimately, the specific consequences depend on the trust's governing documents and applicable state laws.
What else can I help you with?
You were the grantee in a deed of trust. The original owner has died. Are you now the owner of property?
You need to review the terms of the trust. If your name is on a deed of trust then you must be the trustee. You need to review the terms of the trust to determine the status of the property now that the trustor has died. You should consult with an attorney who can review the land records to determine the status of the title. If the title is not clear you cannot sell or mortgage the property.
What are the typical closing costs and fees that the seller pays when selling land?
All real estate transactions have similar closing costs but vary depending on many variables like state taxes, insurance, processing fees, etc. A general rule, or average, would be 2% of the sale price.
Can you make a land contract if you have a mortgage?
Yes there are several ways to do this. You can use an All Inclusinve Deed of Trust, Wraparound Mortgage Note or a Land Trust. Most mortgages have a "due on sale" clause that says the lender has the right to call the loan due in full in the event of a sale, however, as long as the payments get made on time, they will never know or care in most cases.
How much do land developers make?
It fluctuates greatly on location and amount of business, after all it is commission based. From what I've learned, a commercial real estate developer, or land developer's annual income can on average fluctuate from $60,000 per year to $500,000 per year.
What are the fees that are charged for the services provided by embarq?
You can receive a double savings bundle of Fast Internet and Unlimited Calling from a land line for 54.95. Or you can get the Triple Savings Bundle for 59.95 and get High Speed Internet, Digital TV, and Unlimited Calling.
When was Land Trust of Virginia created?
Land Trust of Virginia was created in 1991.
When was The Trust for Public Land created?
The Trust for Public Land was created in 1972.
When was Capitol Land Trust created?
Capitol Land Trust was created in 1987.
When was Vermont Land Trust created?
Vermont Land Trust was created in 1977.
What is the symbol for Texas Pacific Land Trust in the NYSE?
The symbol for Texas Pacific Land Trust in the NYSE is: TPL.
Can you sale land after conversion from Agriculture to commercial by Urban Improvement trust and given on 99 years lease?
Yes u definitely can sell land after conversion from Agriculture to commercial by Urban Improvement Trust and given on 99 years lease...only the registry will have to be done again in the registrar's office..and the registry fees has to be paid...and the lease will be transferred to the buyer under his(buyer's) name.
You inherited a townhome trough an Illinois land trust Do you therefore have legal right to the furnishings?
No not necessarily. It depends on the specifics of he land trust.
What is the web address of the Kachemak Heritage Land Trust in Homer Alaska?
The web address of the Kachemak Heritage Land Trust is: kachemaklandtrust.org
What is meaning of freight on road?
shipping fees when shipping by land
What is the web address of the Beckett Land Trust And Historic in Becket Massachusetts?
The web address of the Beckett Land Trust And Historic is: http://www.becketlandtrust.org
Is there a simple way to to change a trustee of a land trust in KY if the land trust gives authority to the beneficiaries and I am the only beneficiary?
You must look to the trust document to determine how you make a change in the trustee. You must follow the provisions in the trust.
If timber is sold on land in irrevocable trust should it go into the irrevocable trust account?
no
