Category: Real Estate Terms
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Does A New Contract Void An Old One?
Contractual law is a stringent part of the legal process. When someone enters a contract, they want to ensure that it does not become voidable, especially when money is involved. This is especially true with real estate contracts. A new contract will not automatically void an old one. It will depend upon what the terms…
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What Is Joint Tenancy In Property Transactions?
If you want to purchase property with another person, one of your options is to have a Joint Tenancy agreement for your property transactions. A Joint Tenancy in a property transaction is when all parties in Joint Tenancy have equal shares and obligations for the property. One of the unique aspects of the Joint Tenancy…
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What Is A Joint Tenancy, And How Can It Be Terminated?
A Joint Tenancy is a part of real estate law and property ownership. There are specific aspects of a Joint Tenancy that need to be understood. A Joint Tenancy is where two or more people equally join and hold obligations to a property. An aspect of a Joint Tenancy is the right of survivorship. If…
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What Is In Harmony With Joint Tenancy?
If you are in a Joint Tenancy, there are several things you need to understand about the term Joint Tenancy and what it means. One of the significant aspects of a Joint Tenancy is the Right of Survivorship; the right of Survivorship makes the Joint Tenancy unique in Real Estate ownership. Also, a Joint Tenancy…
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What Is An Underwater Real Estate Mortgage?
If you own a home or property and the real estate market starts to dip, there is a chance that you can have an underwater mortgage. An underwater mortgage, also known as an upside-down mortgage, is when your home or property value decreases so much that you now owe more to the bank on your…
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Joint Tenancy And Right Of Survivorship In Real Estate Explained
A Joint Tenancy with the Right of Survivorship may be set up in some land deals. There are some unique aspects of this kind of real estate transaction. A Joint Tenancy is when two or more people own a property together and jointly; this can be any two people, including married couples, family, friends, or…