The contract dictates who pays the closing costs and settlement fees and the title company should follow those instructions. Note that in most cases the Seller will pay the cost of the deed preparation and the cost of recording the release for any mortgage, even if the Buyer will pay the...Read more »
What about land installment contracts do you want to know?
It might be helpful to contact a lawyer to go over the particular situation and ways to structure. Maryland law allows land installment contracts, though there are other ways to structure transactions where the goal is to pay the...Read more »
If someone doesn't have the credit bandwidth to purchase a property from an owner in say 2-3 years as is typical. Could the contract be written for a longer period say, the length of the original owner's mortgage?
It is worth noting that any leasehold arrangement longer than 7 years generally must be recorded among the Land Records and that recordation tax may be due on the recording. For this reason it is not common in Maryland to have a lease with a term greater than 7 years.
Most mortgages ("Deeds of Trust") have a clause that prevents property from being transferred without paying off the mortgage. As another attorney notes, if someone tries to transfer without paying off the mortgage the lender usually has the right to exercise something called a...Read more »
Quiet title can only be given by the Courts. To quiet title in a property you'd need to first do a complete title search, then file a lawsuit. Such kinds of lawsuit may require a full trial with experts, depending on the circumstances and whether or not other interested parties contest the...Read more »
The two heirs are minors and we want to keep the home in the family as they have experienced much loss at young ages. No one in our family is contesting the sale price which is about half of the value.
My father is the personal representative of my aunts estate and is willing to sell the... Read more »
A personal representative must preserve the estate and the value of estate assets for the beneficiaries / heirs. Assets cannot be sold/given away for less than fair market value since doing so would take money away from the creditors or heirs.
I have lived in his home for past 13 yrs. My sister lives in his other home, which he purchased for her and has lived there 20 + yrs. When his money runs out will we have to sell the homes, can I put deed in my name?
Usually an attorney in fact under a POA cannot transfer assets to themselves. Nor can the agent gift property to other family members unless the authority is expressly given in the power of attorney and is consistent with the principal's pattern of giving and best interests.
An attorney would need to look at the specific Contract and Addenda at issue before drawing a conclusion on the rights of the parties. Sometimes a contract is written giving a buyer a general right to terminate if dissatisfied after inspections -- in that case, there is usually not much a seller...Read more »
Will The Judge Grant The It If You Have No Claim Statement Or The Claim Statement Is That Its Self Or By Asking Or Just Based On Identification Identification And The Circumstances There Of Or Nature Of The Unmaintained Land
"QUIETING TITLE" means settling any dispute on the ownership of particular property. The condition of the property is usually irrelevant. Someone can only quiet title to property they either have a recorded interest in (meaning something like a deed recorded in the Land Records) OR...Read more »
There are at least 2 different kinds of foreclosures in Maryland, and they have similar but slightly different rules. A house can be foreclosed because the owner didn't pay the mortgage or it can be foreclosed because it went through tax sale.
Articles of Organization do not ordinarily list who the business owners are, so in most cases they have no effect on who the member(s) might be. The member(s) should be identified in the Operating Agreement, in the membership certificates and on federal and state tax filings.
As other attorneys have noted, if a co-owner doesn't respond, the owner who wants to sell can file a lawsuit called a "sale in lieu of partition" action. This basically forces a sale by putting a court-appointed trustee in charge of the property. Litigation is not the most...Read more »
My mom is verbally abuses me everyday and sometimes physically hits me with her cane. I want to move out as soon as possible I can’t wait until I’m 18. I already have a family member who will let me move in with them . I have already talked my mom about letting me move out and why she made it... Read more »
"Emancipated" is different than a minor going to live under another adult's care. In most cases to be emancipated a minor must be fully independent and prove that they can financially and otherwise care for themselves. It would be unusual for a 15 year old to meet the standards...Read more »
My cousin would like to sign property over to me. They had no will. What steps need to be taken to do this. Property has no liens or mortgages. I have paid land taxes for over ten years.i live in the property and have all my life. Cousin has no interest in owning home.
An estate will need to be opened. If a married couple owned the property as "tenants by the entirety" when the first one died, title should have gone to the survivor of them. (If they owned title differently there may be a need for two estates).
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