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Realty

Many real estate documents related to the purchase of property, do not require notarization. However, our professional realtors and loan officers can answer many of your questions. Most of your real estate related notarizations will be handled in the office of the Title Company, at Closing. This is a subject you may want to think about: When people purchase real estate, be it land, houses, or a business, they must decide how they will take Title.

We have licensed realtors and loan officers, who can assist you with your questions concerning real estate: Ask us how to search for and purchase a home, land or businesses.



Remember these words:

Joint Tenancy:

This is a term used to describe Title two or more natural persons taking title with the right of survivorship. Either of these people may sell, encumber, or lease but cannot leave by Will. A sale by one tenant, will convert the Joint Tenancy into a Tenant in Common. Upon the death of one of the joint tenants, their interest automatically passes to the remaining person(s), without probate.

Tenancy by the Entirety:

Similar to a Joint Tenancy with right to survivorship, but tenants must be husband and wife. It is understood that "the marriage" owns the property --- therefore, one spouse cannot sell or partition the property, nor can a creditor of one spouse force a sale. Upon "divorce", the parties become tenants in common.

Tenancy in common:

Two or more natural persons own a property without the right of survivorship. Each person has an undivided interest in the whole property. The interest in the property does not need to be "equal". They can leave by Will. Property is subject to probate. When one of the owners passes away, his/her interest passes to his or her heirs, as indicated in their Will.

Survivorship:

means if two people own a property, and one of the people passes away, the remaining party becomes owner of the entire property, without the need to go to court, as in the case of Joint Tenancy or Tenancy by entirety.

Dissolving Joint Tenancy:

When one owner, under a Joint Tenancy, passes away, the remaining person may wish to remove the name of the deceased person from the Title. We can assist you with this procedure.

FORECLOSURE OR SHORT SALES:

Will Foreclosure wipe out your credit life forever? No! Foreclosure will certainly negatively affect your credit rating. But if a person works really hard on their credit, after experiencing a Foreclosure, that is, keep their credit clean, some mortgage companies will consider doing an FHA loan for those who have experienced a Foreclosure, as early as three years after the Foreclosure. For those who have experience a Short Sales (the home sold for less than was owed to the mortgage company) a Lender may consider doing an FHA loan within three years, but longer with other types of loans.