| Flipping Scams |
| In recent years, so-called "flipping scams" have received widespread attention in the media. How does it work?More... |
| Mortgagee Insurance |
| Most residential real estate transactions involve a mortgagee. A mortgagee is the financial institution that loans the money to enable the homeowner to purchase the real estate. The mortgagee is a creditor of the homeowner. When the mortgagee lends the funds, it takes back a security interest in the real estate. As a secured creditor, the mortgagee is entitled to protect its interest in the real estate to the extent of the unpaid balance of the mortgage.More... |
| Sharecropping |
| Generally speaking, the term "sharecropping" refers to an between a property owner and another person whereby the property owner hires the other person to farm the property owner's land. In exchange for the person's labors, the person is entitled to receive a share of the crop or harvest. Over the years, however, many different forms of sharecropping arrangements have been developed between parties. More... |
| The Rule against Perpetuities |
| The Rule against Perpetuities: No future interest is valid unless it can be shown that it will necessarily vest, if at all, no later than 21 years after some life in being at the creation of the interest. More... |
| Land Installment Contracts |
| 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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