If a Seller in a Land Contract does not fully own the property under contract, often a mortgage is involved through a third party lender. And if that Seller doesn’t make the required mortgage payments to the lender even though the Land Contract Buyer is paying the Seller, it can put the property in financial jeopardy.
But the Land Contract Buyer does have some options to overcome this situation.
A Certification of Trust permits the Grantor or Trustees of a Trust to provide required information regarding the Trust to those that need or want it.
A typical Power of Attorney document grants legal control to the named Attorney-in-Fact immediately upon signature, be it for specific actions or for general personal or business functions should a person become incapacitated.
But can a Power of Attorney document be drafted to only take effect AFTER the maker is unable to make personal decisions?
By intent, the Bankruptcy Court does not make Student Loans easy to discharge. Thus, there is no standardized form for discharging student loans.
There are main four benefits to creating a Gun Trust:
A Gun Trust is a legal document created to allow the ownership of certain firearms or other item that are regulated by the NFA, the federal law that governs the manufacture, possession and use of certain guns and gun accessories.
Standard Legal’s Living Trust Agreements generally fall into one of two categories: Trusts that pass property to the Grantor’s children; and Trusts that pass property to specifically named beneficiaries
For both of these types of Standard Legal Trusts, the Grantor can choose a how to distribute property to his/her named Beneficiaries if any of these individuals predecease (pass away before) the Grantor.
The choices are “per stirpes” or “per capita.”
And the choice of distribution provides a structure for addressing for contingent Beneficiaries.
Some changes can be made to an existing Living Trust by “delineation” or “interliniation” – meaning words can be added or crossed out and modified, with such changes being initialed to show the change is intended.
But this editing option should be used in a limited way.
Under a Joint Tenancy Deed with Survivorship, when one of the listed owners on the Deed dies and the surviving owner wishes to add a new person to the Deed, the process of transferring the property depends upon state laws.
Moving to a different State does not necessarily require a change to the documents or the creation of an Addendum to a Living Trust.