Does A Promissory Note Need To Be An Original? In accordance with the common law “best evidence rule,” a party seeking to prove the disputed contents of the promissory note, such as the amount owed on said note, must produce the original document because it is the “best evidence” of the terms of the note
How Much Does A Title Search Cost? Obtain the property’s legal description (found on property tax statements) Go to the Recorder’s Office or Office of the Examiner of Titles with the legal description. Request public access to records and look up the legal description. Can you do a free title search online? Performing a property
How Do You Convey A Title? If the owner of the real estate is still alive, then the conveyance is achieved by executing a deed to convey title; otherwise, title is conveyed through a will, and will be subject to probate. Voluntary alienation, either as a sale or a gift, must be executed by the
Which Type Of Warranty Limits The Covenants Of The Grantor When He Conveys Real Estate? Which type of warranty limits the covenants of the grantor when he conveys real estate? A general warranty deed: a. Is the best possible deed for a grantee to receive. Which type of deed would be best to convey property
What Is A Mortgage Trust? A mortgage trust can function as an investment account. In this case, investors put funds in the trust account, and the trustee of the account invests these funds by directly buying mortgage securities, or investment instruments that pool mortgages together and provide a rate of return. Why is deed of
Who Pays The Reconveyance Fee? The reconveyance fee the seller pays will be enough to cover the charges for recording the mortgage and deed, and those costs can vary. Generally, you can expect to pay between $50 and $65. If you want to know the exact amount you’ll be charged at closing, you can ask
Who Is The Third Party In A Trust Deed? In a deed of trust, the borrower (trustor) transfers the Property, in trust, to an independent third party (trustee) who holds conditional title on behalf of the lender or note holder (beneficiary) for the purpose of exercising the following powers: (1) to reconvey the deed of
What Term Is Defined As The Addition Of Value To Property Through Labor Or The Addition Of New Materials? Accession has different definitions depending upon its application. In property law, it is a mode of acquiring property that involves the addition of value to property through labour or the addition of new materials. … In
Who Owns Property After The Death Of A Testator? In case a male dies intestate, i.e. without making a will, his assets shall be distributed according to the Hindu Succession Act and the property is transferred to the legal heirs of the deceased. The legal heirs are further classified into two classes- class I and
What Does Excepted And Reserved Mean? Simply stated, a reservation is always in favor of the grantor and an exception is in favor of someone besides the grantee, it may be the grantor or someone else. When you reserve it, you keep it for yourself. When you except something, it stays wherever it is at;