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What is a security interest?
A security interest is an interest in property—real estate or otherwise—that secures repayment of a debt or performance of some other obligation. If the party that grants the security interest fails to fulfill its obligation, then the holder of the security interest can normally take possession of the asset in question and sell it in order to recoup...
How to Effectively Use LLCs in a Property Rental Business
Using a limited liability company for a rental property business is one of the better decisions you could make. If you rent property in your name, you could be held liable if someone gets hurt. However, if someone falls and decides to sue the landlord, and your LLC is the landlord, then the person suing may only go after the LLC's assets—not your pe...
Right of Survivorship: Everything You Need to Know
There are many things you should consider when you are purchasing property with another person. One of these things is called the right of survivorship. Right of survivorship can impact what happens to a property if one of the owners passes away before the other one. It is important to understand how this right works and how it can impact various fa...
5 Important Facts about Quit Claim Deeds
Deeds are legal instruments used to transfer real estate, and almost everyone will encounter a deed of some sort at one time or another. There are three main types of deeds: General warranty deeds Special warranty deeds Quit claim deeds The......
Understanding When and How to Use a Deed of Trust
When buying real estate with borrowed money, or financing the sale of real estate you own, a deed of trust may be one of the required documents you will sign at closing. What Is a Deed of Trust? A deed of trust is a legal document that is the......
Business Formation for Real Estate Investments
Real estate can be a great investment if you plan it correctly. Since the housing market bust in 2008, investors have been wary of starting back up in real estate, but home prices have made a significant recovery since then. Nonetheless, the......
The Documents You Need to Buy a New Home
Purchasing your first home can be an extremely intimidating process. You are confronted by many terms that you may not understand, and you may not realize how many necessary steps there are in the process. To make matters worse, everyone else,......
The Key Elements of a Real Estate Purchase Agreement
A purchase agreement is an essential step in the real estate process that outlines prices and terms for real estate transactions. Every element of the sale is covered, from earnest money requirements to well disclosures. The goal is to protect......
What You Need to Know about Deeds and Property Transfer
Real estate in the United States has a long history of being extremely valuable. Owning land was only for the wealthiest individuals in the early years of U.S. history. Unlike property that can move (possession is nine-tenths of the law after......
Are Mortgage Rates Too Low?
In May 2016, homeowners were struggling with a rare problem: mortgage rates were insanely low that it made more financial sense NOT to sell your home. Right now, selling your home and buying a new one would likely mean trading in your low rate......