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What is difference between marketable title and insurable title?
What is difference between marketable title and insurable title?
What COtA does stand in real estate?
In real estate, CoTA stands for "Certificate of Title Act." It refers to legislation that governs the process of title registration and provides a framework for ensuring that property titles are clear and marketable. This act typically establishes procedures for recording ownership, transferring property, and resolving disputes related to title issues, thereby enhancing the security of real estate transactions.
Is title insurance mandatory in Texas?
In Texas, title insurance is not mandatory by law, but it is typically required by lenders when financing a property purchase. While buyers can choose to forgo title insurance when paying in cash, it is highly recommended to protect against potential title defects or claims. Most real estate transactions in Texas involve title insurance to ensure a clear and marketable title.
What is a merchantable title?
A merchantable title is a property title that is free from significant defects or encumbrances, making it marketable and acceptable to a reasonable buyer. It ensures that the seller has the legal right to transfer ownership and that the property can be sold without legal disputes. Essentially, it meets the standards required by buyers, lenders, and insurers, providing assurance that the property can be sold or financed without issues.
How do you sign over property left by mother to one sibling?
If the property includes real estate the estate must be probated in order for title to pass to the devisee.If the property includes real estate the estate must be probated in order for title to pass to the devisee.If the property includes real estate the estate must be probated in order for title to pass to the devisee.If the property includes real estate the estate must be probated in order for title to pass to the devisee.
What is meant by curing title?
this means there are problems with a title preventing it from being marketable to add additional proof of ownership negating those problems would cure the problem
Can you transfer real estate title insurance to a buyer?
Not sure but i think can't transfer real estate title insurance to buyer
Do you need to be an attorney to own a Real Estate Title company?
In order to own a real estate title company you do not have to be an attorney. It's often the case, however, that attorney's who work with real estate law provide title services.
How should real estate be handled in an estate?
An estate that includes real estate must be probated in order for legal title to pass to the heirs, or for the estate representative to be able to transfer legal title. You should consult with an attorney who specializes in probate law.
What is a real estate title rep?
A real estate title rep is an agent for a title insurance company who deals with the law offices and title companies that sell title insurance policies. The person who examines the record title of a property is called a title examiner.
How can I file a suit to quiet title for a real estate property?
To file a suit to quiet title for a real estate property, you need to hire an attorney who specializes in real estate law. They will help you prepare and file a complaint in the appropriate court, providing evidence to prove your ownership of the property and resolve any conflicting claims. The court will then issue a judgment to establish clear and undisputed ownership of the property.
How do you register car with no title or will when previous owner is dead?
You can not register a car that you do not own. The car is owned by the estate of the deceased individual. The estate gets the title and then you buy it from the estate. Some legal process must occur to distribute the estate of a person who has died. Usually, someone is legally named the executor of the estate and had authority to settle the estate in a manner consistent with a will, if one exists. If no will, exists, the executor still has the power to sell or give away the items owned by the deceased. Technically, it is the estate which owns the car, with or without a title. If you want to become the onwer of the car you must have it transferred by the estate. It is the estate (and the executor is the agent for the estate) who must acquire title to the car. With appropriate documentation, such as a certificate of death and legal documentation identifying the executor, the executor can request a new title from the State Bureau of Motor Vehicles. That title may be in the name of the deceased or in the name of the estate. The estate owns the car. Only after the estate has the title can the estate sell or gift the car to someone.
