To put it in simple terms, “chattel” means personal property which can be moved. It is also referred to as “movable property”. Items such as washing machines and dryers can be though of as chattel. Cars and jewelry can as well.
There are quite a few considerations that need to be taken into account when purchasing a new home. One is how you and whomever you will be living with plan to title your home. A joint tenancy and a tenancy in common are just two of several different ways you can choose to title your home.
Owning a condominium is different than owning a single family home and it has its distinct advantages and shall we say, peculiarities. The lifestyle a condominium offers is not for everyone. So look before you condo and consider the following pros and cons before making a decision.
Similar to buying an item or service on time, an installment land contract is also established by setting up installment payments. An installment contract concerns an agreement used instead of a mortgage between a buyer and a seller in which the seller keeps the title to the property and simultaneously finances the sale of that property via an installment plan of payments. Until the debt is paid in full, the seller holds the legal title.
It may have crossed your mind; whether you are buying or selling a home that you could reduce your expenses by foregoing the realtor. The present situation many of us find ourselves in economically, is leading people to make sacrifices in many areas of daily life. Most people will find, however, that it is much easier to buy or sell a home with the aid of a professional realtor.
“Lis pendens” is in Latin, much like many other important legal term. To a non-lawyer, it’s also like that the term doesn’t make much sense. The term deserves a thorough explanation, since it’s an important one to know, so read on.
“Joint and several liability” is related to the law, like many terms you encounter in the field of real estate. Despite the illusion of being self-explanation, it’s not quite as intuitive with how it relates to real estate and affects you as a home owner.
One of the most important considerations is location when you make a house purchase. Where you choose to live such as a state, city or even a neighborhood does play a part. Whether you want to live in an open or gated community is another part entirely.
Buying a Spec Home has many benefits and rewards. If you are in the market for a new home, you might have your heart set on a custom-built home, but they aren’t necessarily the only or best option. Compared to custom-built homes, Spec Homes are completed quickly, of good quality, and less expensive.
When you decide to sell your home, a lot more goes into the transaction than is probably originally realized. Most sellers focus on the tangible aspects of real estate transactions. These can include dealing with the real estate agent, the home buyer and sometimes an attorney. It also includes any profit that might be made from the home sale.