Can A Person With A Life Estate Sell The Property? Unless specially restricted, a life estate can be sold, leased or mortgaged. Because beneficial use of the property accompanies a life estate, the creation, transfer or termination of a life estate is a change of ownership under Proposition 13. Can you sell a house that
How Does A Tax Deed Auction Work? Tax deed sales are public auctions, similar to a foreclosure auction that allows parties to bid on the property either in person or online. The county or city sets a minimum bid, which is typically the unpaid tax amount with any fees or interest to this point, and
Is An Unrecorded Mortgage Valid? Typically, state law provides that an unrecorded mortgage is enforceable between the mortgagor and mortgagee, but a bona fide purchaser without notice will be able to acquire the mortgaged property free and clear the mortgage. … Thus, under the facts of this case normally the trustee would be able to
Will Changing My Name Improve My Credit Score? Changing my name won’t affect my credit reports and credit history. … After the Social Security Administration and creditors are notified of your name change, the new information will be reported to the three major credit bureaus (Equifax, Experian and TransUnion), so it’s not necessary to contact
Can You Buy A Family Member’s Foreclosed Home? Short Sale Laws There’s no actual law against short selling your home to a relative, but even so you could end up breaking the law. If you’ve short sold your home and your lender suspects collusion between you and the buyer it could sue you for damages
What Makes A Quit Claim Deed Invalid? Contesting the validity of a quitclaim deed must prove that one of the stipulations described above is invalid, that the deed was filed under false pretenses (e.g., the grantor’s signature was forged) or that the grantor signed the deed under duress. Can you quit claim property in a
Can A Contract For Deed Be Broken? In the event a buyer defaults in the terms of a contract for deed, the seller may cancel the contract. … A seller can cancel a contract for deed for buyer’s default in making the monthly payments. Default also can include buyer’s failure to pay property taxes, insurance,
Can You Buy A House When You Are 16? Can a 16 year old buy a property? Minors, or those under 18 (besides emancipated minors), need an adult to co-sign legal documents. This co-signer must have income, not a lot of debt and be creditworthy. Can a 16 year old own a house in the
What Does A Deed Of Trust Secure? A third party, known as a trustee, holds the property’s legal title until the loan gets paid in full. A deed of trust is the security for a loan and gets recorded in public records. Some states will require a borrower to sign a deed of trust to
Can You Alter A Deed Of Trust? A deed of trust modification can be entered into by a settlor or trustee and beneficiary of a trust. The agreement modifies the deed of trust, allowing changes to existing provisions and the addition of new articles and provisions. … Once signed, the deed of trust modification supersedes