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Showing posts from March, 2023
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  Legal Description and Its Importance in a Title Search of Real Property Real property is one of the most valuable assets that people own. However, when purchasing or selling real property, there are numerous legal requirements that must be satisfied, and one of these is the need for a clear and marketable title. To obtain this, a title search is usually conducted, and an essential aspect of a title search is the legal description of the property. What is Legal Description? A legal description is a precise way to identify and describe a piece of real estate. It includes information such as the property's boundaries, its exact location, and any encumbrances or restrictions that affect the property. A legal description can be found on the property's deed, survey, or other official records. The legal description is essential in a title search because it allows the title examiner to identify the specific property being sold and to ensure that there are no defects in the ti...
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       TITLE VESTING AND TYPES OF VESTING WITH IT’S SIGNFICANCE   Title vesting refers to the ownership of a property and the rights associated with that ownership. It determines who has the right to transfer ownership of a property, receive the profits from the sale of a property, and make decisions about how the property is used and managed. Understanding title vesting is important for anyone involved in real estate transactions, as it can affect the transfer of ownership, decision-making, and distribution of profits from the sale of a property. There are several types of title vesting, including sole ownership, joint tenancy, and tenancy in common, community property, and corporation. In this article, we will explore each type of title vesting in detail to help you understand the differences and determine which type of title vesting is best for you. Sole Ownership Sole ownership is the simplest form of title vesting. In this type of vesting, the propert...
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         The Chain of Title: A Guide to Understanding Ownership in Real Estate                        Transactions When buying or selling real estate, it's important to understand the chain of title and how it affects the transaction. The chain of title refers to the chronological record of all transfers of ownership for a particular piece of property. It includes all deeds, mortgages, and other relevant legal documents that have been recorded over time. In this article, we'll provide a comprehensive guide to the chain of title and its importance in real estate transactions. We'll cover the following topics: What is the chain of title? Why is the chain of title important in real estate transactions? How to review the chain of title Issues that can arise with the chain of title How to resolve chain of title issues   What is the Chain of Title? The chain of title is a record of...