| Concurrent Ownership of Real Estate |
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| Real estate may be owned by one or more people at the same time. This is called concurrent ownership. The three kinds of concurrent ownership are tenancy in common, joint tenancy, and tenancy by the entireties.
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| Mortgagee Insurance |
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| Most residential real estate transactions involve a mortgagee. A mortgagee is the financial institution that loans the money to enable the homeowner to purchase the real estate. The mortgagee is a creditor of the homeowner. When the mortgagee lends the funds, it takes back a security interest in the real estate. As a secured creditor, the mortgagee is entitled to protect its interest in the real estate to the extent of the unpaid balance of the mortgage. More... |
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| The Statute of Frauds |
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| A "statute of frauds" refers to a statute that requires certain types of contracts to be in writing and signed by all parties in order to be enforceable. The matter is largely one of state law and state law varies from state to state. More... |
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| Fences - Maintenance of Boundary Fences |
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| Many properties, particularly residential properties, have boundary fences on at least one side. Generally speaking, the neighbor who erects the fence has the responsibility for maintenance; however, if an adjoining neighbor uses the fence as a boundary fence (perhaps, by erecting fences on all other sides), then the neighbor has some responsibility for the fence, as well. The issue is largely governed by state and local law. More... |
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| Real Estate Owners' Rights |
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| An owner of real estate has the right to use the realty for any purpose and in any way that does not conflict with local statutes, ordinances, and zoning laws and any restrictive covenants. As long as the owner complies with those restrictions, the owner has the right to sell the property, to give it away by gift or by will, to exchange it, and to exclude others. More... |
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