Before someone buys a piece of property they want to make sure they are getting a good title to the property, so they would probably hire an attorney to do a “title search”. If they need to secure financing, the lending institution would require a title examination to assure the seller is conveying a good and marketable title. The attorney doing the title examination would be looking for many things, including the following: mortgages, life estates, right-of-ways, judgment liens, special asses
Posts Tagged ‘title-insurance’
The Long And The Short Of It: A Massachusetts Short Sale Legal Primer
A short sale is special type of real estate transaction between a homeowner, his mortgage holder, and a third party buyer. In a short sale, the homeowner’s mortgage company agrees to take less than what is owed on the outstanding mortgage, thereby being left “short.” In some but not all cases, the lender will agree to wipe out the entire debt
The Massachusetts Offer To Purchase Real Estate: Not A Mere Formality
The first step in purchasing or selling Massachusetts residential real estate is the acceptance of an Offer To Purchase. Most often, the buyers’ real estate broker prepares the offer to purchase on a pre-printed standard form and presents it to the seller for review and acceptance. Attorneys are not typically involved in the offer stage but given the amount of recent litigation over offers to purchase, it’s never a bad idea to consult an attorney even at the earliest stages of the home buying
Mortgage Disclosure Improvement Act Alters Days…
Any contract written after July 30, 2009 will have a whole new set of rules to follow – primarily the Mortgage Disclosure Improvement Act which included amendments to the Truth-in-Lending Act. The new rule amends disclosure requirements, sets waiting periods, and institutes fee disclosure requirements. All are important measures to protect the consumer. Here’s a link