A title is a document that proves that you own property such as a home or a car. When you have a car loan your lender will usually have the title until you pay off the loan. When you buy a home you’ll buy title insurance to make sure your home’s title is clear and there are no liens on it. The title insurance company will run a title search to find out. Learn about how to make changes to a title here as well.
Daughter Assumes Mortgage Payments
Can a daughter's name be added to the deed of her home since the daughter has started to make mortgage payments for her parents? While it may seem like a good short-term solution, there are many implications to the daughter assuming the mortgage. How can they protect both the parents and the daughter in the transaction? There have been incidents where the children assuming the mortgage have evicted their parents. Another option is to add the daughter's name to the house deed in addition to the names of the parents.
Tenancy In Common And Property Ownership
A father changed the ownership of his property from joint tenants with right of survivorship to tenancy in common. The father later signed a quit claim deed giving his interest in the property to his daughter. What does tenancy in common mean for property ownership? Is the property ownership divided equally so everyone gets the same amount of land? State laws and how the father changed the joint tenancy will determine the answer to the property ownership.
Signing Quit Claim Deed Removes Late Wifes Name From Title
A woman married to a widower wants to put her name on the title of her husband's home and delete his late wife's name. She can add her name to the title using a quit claim deed. But, because the home is pre-marital property, the husband may not want to add his wife to the title so the property can be passed down to his heirs.
Seller Disclosure Did Not Include Building Permit
A home buyer asks about holding a seller accountable for not disclosing a missing permit for a studio apartment and for an inaccurate address on the real estate contract. Because the home buyer bought the property five years ago he may have exceed the statute of limitations to sue the seller for not disclosing the probelm. The buyer should contact the title company about the address mistake and a real estate attorney about the permit problem.
Learn About Title Insurance
Title insurance is a key part of buying a home. Learn more about title insurance from these ThinkGlink.com stories. Why do I need to buy title insura...
Inheritance Real Estate Tax And Title
A homeowner received a home as part of an inheritance and wants to know how to put the home's title in his name. He also wants to declare the inherited home his principal residence and wonders how to do this when he owns another home in another state. How can the homeowner handle real estate tax and title with the inherited home?
Unpaid Real Estate Taxes
If you don't pay the real estate taxes on your home, you could lose it to a tax purchaser. While the nightmare situation can be avoided, it still happens to lots of people. Here is what you need to know about losing your property because of unpaid real estate taxes.
What’s Included In A Title Search?
Title insurance protects you and your property. A title insurance company runs a title search before issuing a policy. A title search means looking at public records relating to your property and tracing the chain of ownership. What documents are included in a title search?
Easements Are Common In Subdivision Properties
When you buy a property in a subdivision, your property likely has easements around it. In some cases these easements are for utilities. An easement allows a second party, such as a utility company or neighbor, access to property. Easements are legally documented and it's helpful to consult a real estate attorney to understand them.
Tenancy By The Entirety Protects Property
A home owner wants to protect the title to his home, because his wife works in medicine, and could be sued. Tenancy by the entirety could be the best option. Tenancy by the entirety means both of them would own all of the home and would have to agree with most choices having to do with the ownership and sale of the home.