Tag Archives: Real Estate
Owning a timeshare can be a great way to own a vacation property at an affordable price. Even so, changes in life circumstances and vacation preferences over time can result in timeshare issues that need to be addressed. Because the term “timeshare” refers to many different legal arrangements, it is important to become knowledgeable about timeshare laws. For example, some forms of timeshares provide a right to access the same …Read More
When homeowners purchase property without the expertise of a real estate attorney, they can encounter issues within the title that can affect their ownership rights. Title insurance takes care of all undiscovered issues that can arise in the chain of title. When purchasing a home, it is always a smart idea to utilize the owner’s title insurance. “Why,”, one might ask? Here are 7 reasons you should purchase Owners’ title …Read More
A title opinion is a written report from an attorney explaining the state of ownership of a certain piece of property based upon the attorney’s review of the property records in the county where the property is located, also known as a title search. The title opinion states any defects in the title to the property as well as any easements or other issues that burden the property and could …Read More
The recession of 2008 left many potential sellers and buyers of real estate without access to credit and financing. When faced with no access to traditional lender financing, like a bank or mortgage company, buyers and sellers came up with creative alternatives. While the major credit crunch appears to be behind us, buyers and sellers should not forget the creative financing lessons learned in the recession. Here are three methods …Read More
Tennessee is one of a handful of states which allows non-judicial foreclosures. This means that the lender does not have to go to court to get permission to foreclose on your property. In short, if a lender has a deed of trust (often called a mortgage) that lists your property as collateral, then that lender can sell your property on the Courthouse steps if you are in default. Failure to …Read More
A joint tenancy with a right of survivorship is a method for holding title to real property used when you want your joint tenant to have your share should you pass away. Conversely, if the other joint tenant dies, then you would take his/her interest automatically at that time. A joint tenancy can consist of two or more persons holding title to property. How to Create a Joint Tenancy with …Read More
A tenancy by entirety is a phrase that means real estate is owned by a married couple and if one spouse dies, then 100% of title to the property automatically vest in the surviving spouse’s name. This is a very important and simple tool for estate planning purposes because it avoids the necessity of probate when one spouse dies. That is, of course, if you wish for the land to …Read More
There are several ways to hold title to a piece of real property in Tennessee. A tenancy in common is the predominant method. When two or more people hold title to property and they are not married and there is no additional language outlining their interest in the real property, then they are likely tenants in common. For example, if the deed describes the grantees (the owners) as “Robert Jones …Read More