Entries from January 2010
Sometimes the parties to a Deed cannot meet together on the same day to sign the document; often a Deed is hand-delivered by a third party or mailed between parties.
In such an instance, the date listed within the Deed should reflect the date of the second person making the signing. [ Read More… → ]
Tags: Quitclaim and Warranty Deed Questions · January 29th, 2010
Land Contracts have a number of names: sometimes they are called Trust Deeds, Contract for Deed, Deeds of Trust, Notes, or Privately Held Mortgages. But they all represent the same thing: a way of selling property where the buyer relies upon the seller for the financing rather than paying cash up front or borrowing from a bank.
So what is the process of buying a home or undeveloped property via Land Contract? [ Read More… → ]
Tags: Land Contract Questions · January 27th, 2010
Most real estate purchases made with a mortgage in place use a Warranty Deed as a way to protect the interests of both the note holder and property owner. But once a mortgage is paid off and the house is owned free and clear by the property owner, other types of deeds can be used, if the property owner so chooses. [ Read More… → ]
Tags: Quitclaim and Warranty Deed Questions · January 22nd, 2010
Trustees often have specific rules regarding the conduct of their 341 meeting of creditors. And while many procedural rules are common to all Trustees, there can be slight differences in their actions or requirements. [ Read More… → ]
Tags: Bankruptcy Questions · January 20th, 2010
Many people hope that they need not include their car in bankruptcy, especially if they are not behind in their payments. But is a person still required to list their car on the bankruptcy filing regardless?
Under bankruptcy law, all assets, debts and obligations are to be listed on the petition and schedules. [ Read More… → ]
Tags: Bankruptcy Questions · January 14th, 2010
Wills are not “filed” with a court — they are signed, attested then distributed to the Will’s executor, family members, and other trusted advisors and persons.
If a person you know has become incapacitated or died and you are attempting to locate a valid copy of his or her Will, the best idea is to contact persons close to or related to the maker of the Will.
Tags: Last Will and Testament Questions · January 12th, 2010
Making certain that a completed legal document like a Will, a Living Will, a Living Trust, a Promissory Note or a Premarital Agreement will remain valid for many years after its original signing is a legitimate concern, and one to be taken seriously. [ Read More… → ]
Tags: General Questions · January 11th, 2010
Vehicles can be transferred into a Living Trust so that the Trust holds the title or ownership to the vehicles. Upon the death of the Grantor of the Trust, the vehicle continue to be owned by the Trust and do not need probate court or bureau of motor vehicle approval to transfer title to the beneficiary named in the Trust document. [ Read More… → ]
Tags: Living Trust Questions · January 11th, 2010
A written contract should be completed for the sale of a mobile home, but it would not be a real estate agreement: in most cases a mobile home is not tied to land and therefore is considered personal property. [ Read More… → ]
Tags: General Questions · January 8th, 2010
The abbreviation TTEE is shorthand for the word “Trustee” — the person who executes the terms contained within a Trust.
Tags: Living Trust Questions · January 6th, 2010
Before filing for a second Chapter 7 bankruptcy case, a debtor must wait eight (8) years after filing the first case in which a discharge was granted.
But in some cases there can be a significant amount of time that passes between the original filing and the date the Bankruptcy is officially discharged by the Trustee. So which date is used as the starting date for the implementation of the 8-year rule, should a person needs to file a second bankruptcy proceeding? [ Read More… → ]
Tags: Bankruptcy Questions · January 5th, 2010
Typically, there are two options to changing the name on an existing Trust, assuming the existing trust was validly executed and properly funded: [ Read More… → ]
Tags: Living Trust Questions · January 4th, 2010