Most mobile homes have titles, like automobiles, so they are not always treated like Deeded real estate property in a personal Bankruptcy filing.
Can a Land Contract Seller Use the Property as Collateral?
Under a Land Contract, the ‘Seller’ still holds an interest in the property until the contract is fully paid. At times, that Seller may wish to use the property as collateral for a loan or other interest. But is it legal for the Seller to use a home currently under Land Contract as collateral?
Which State’s Bankruptcy Exemptions Are Used if I Moved?
The choice or applicability of a particular state’s Exemption laws depends on the ‘domicile’ of the debtor, i.e. where the debtor permanently resides.
The Bankruptcy Code outlines where the debtor is domiciled in cases where the debtor has recently moved.
Can a Buyer Pay Off a Land Contract Early?
A well-drafted Land Contract explicitly outlines the payment obligations within the document. (If the Land Contract you are using does not, next time get Land Contract documents from Standard Legal!)
When Can I Dispose of Personal Property Left By a Past Tenant or Owner?
When a home is purchased or a rental unit is vacated, the past occupants may leave behind personal property on occasion. So how long must the new owner, tenant or landlord wait before keeping or disposing of the left-behind possessions?
Can I Create a Living Trust with Standard Legal if I Have a High-Value Estate?
Whether single or married, Standard Legal has some Living Trust options for people with a high value of assets.
What is an Offset in Bankruptcy?
An offset, like the term “setoff”, is the deduction by the Debtor from a claim or demand of a debt or obligation owed to the Creditor.
Can a Grantor and Trustee Sign a Trust Separately?
A Grantor and a Trustee can sign the complete Living Trust document separately, but some specific steps should be followed to eliminate any potential legal issues.
Can Standard Legal’s Trust Have Staggered Distributions?
Standard Legal’s Joint Trust documents do not provide for staggered distribution to child beneficiaries directly within the primary language. But there is a straight-forward way to accomplish a distribution of assets to specific child beneficiaries in specific amounts on specific dates using a second document included within the Living Trust package.
How Do I Add Conditions to a Living Trust?
Some people wish to add conditions or requirements to a Living Trust before the distribution of that Trust takes place. So what is the best way to add such a condition to the Revocable Living Trust documents offered by Standard Legal?