| Land Installment Contracts |
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| A land installment contract, also known as a contract for deed, is a financing mechanism where title to real property remains in the seller until the buyer has paid the sale price of the property in full. The buyer is required to pay the sale price in installments over a period of years. More... |
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| Judgment Liens against Property |
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| Once a court reaches a determination that one party owes another party money, the court issues a judgment. A judgment, quite simply, constitutes a judicial determination that one party owes another party money and nothing more. Once a judgment creditor obtains such a judgment, the judgment creditor must undertake efforts to collect the money that is owed by the judgment debtor. More... |
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| Contingency Clauses in Real Estate Contracts |
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| In the context of real estate transactions, buyers and sellers agree to contingencies. A contingency is a clause in a contract that allows a party to escape his or her obligations under the contract in the event that certain conditions are not met. More... |
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| "As is" Clauses in Residential Real Estate Contracts |
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| Generally, a seller has a duty to disclose known material defects and to provide a good faith answer to questions about other defects. When preparing the residential real estate contract, the broker may insert a clause, stating that the buyer agrees to purchase the property "as is." More... |
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| Life Estates |
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| Generally, when a grantor transfers land to a grantee, the grantee receives the entire right and title to the property, without limitations. Sometimes, however, the grantor chooses to limit the grantee's right to the use and enjoyment of the land by creating a life estate. A life estate is an estate in land that ends when a named person dies. It is used primarily for estate planning as a device to allow successive ownership of the land.
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