The following items require added clearance and processing time for escrow and title. Avoid delays by providing as much information as you can as soon as possible. Bankruptcies Probates Foreclosures Establishing Fact of Death – Joint Tenancy Use of, Proper Execution of Power of Attorney Family Trust Business Trust Recent Construction Physical Inspection Findings – …
Why are there separate title policies for owners and lenders? There are two types of title insurance: owner’s title insurance, called an Owner’s Policy, and lender’s title insurance, called a Loan Policy. Most lenders require a Loan Policy when they issue you a loan. The Loan Policy is usually based on the dollar amount of …
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Singles Cohabitating Marriage is not a prerequisite to fulfilling the American Dream of Homeownership for singles/cohabitating couples. Our grandparents would not have considered purchasing a house with a friend, especially if they did not have plans to marry. Many people are not waiting for Ms. or Mr. Right to purchase the Dream Home. According to …
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Parties Only partners (any number(s)) Division Ownership interest is in relation to interest in partnership. Title Title is in the “partnership”. Possession Equal right of possession but only for partnership purposes, absent consent of other partners to the contrary. The partnership property belongs to the firm and not the individual partners.