LOAN SUBORDINATION
A subordinated loan is paid after all first liens have been paid. If there is a first and second mortgage loan on a property, the second mortgage is usually subordinate …
How it Works
A subordinated loan is paid after all first liens have been paid. If there is a first and second mortgage loan on a property, the second mortgage is usually subordinate …
Before the days of income and estate taxes, adult children often just moved into the family home after their parents died. Unfortunately, its not that simple anymore. There are several …
Tax Laws for the Seller of a Contract for Deed Can I Deduct Interest on a Rent-to-Own? In cases where qualified buyers are scarce, selling a home through a contract …
Chances are that the world returns to normal. From SARS to Bird Flu to Ebola, it seems there is always some type of health scare that we are told will …
As Americans sit at home watching the value of their retirement funds crater, it is no surprise the spring housing market is about to crater as well. Home sales could …
What is a Subordination, Non-Disturbance and Attornment Agreement, and Why Do I Need One? While most commercial leases contain a requirement that the tenant will execute a “Subordination, Non-Disturbance and …
One of the most misunderstood aspects of Medicaid is the look back period for asset transfers and how that affects eligibility for elderly people in need of long-term healthcare. Lets …
Transferring Joint Tenancy Real Estate After a Death Property held in joint tenancy is usually easy to transfer to the survivor after the other owner dies. Many people, especially couples, …
Trusts and Divorce Trusts are an important tool that families can use to protect assets and pass wealth to future generations. When the beneficiary of a trust is facing divorce, …
Here are seven factors that help make a real estate market good for investors: Job creation above the national average. Current and expected future population growth, also above the national …
https://flatfeelegalprotection.com LEGAL PROTECTION for your REAL ESTATE TRANSACTION Have an attorney review your documents before signing or if you do not have an agent, our office can draft all the …
A transmutation agreement is a postnuptial agreement that changes the character of the spouses property from community to separate, or vice versa. It may be used to change the character …
What does prepaid mean? Prepaid items are exactly what the name implies – payments made in advance of the monies due to obtain your new loan. These amounts are often …
If you ask a realtor whether to hire a real estate agent or a lawyer to buy a house, you can expect the realtor will suggest hiring an agent. On …
Mistake #1 OverpricingEveryone wants to realize as much as possible when they list their home for sale. Here in the Lakes Region of New Hampshire, just like the rest of …
Usufruct is a limited real right (or in rem right) found in civil-law and mixed jurisdictions that unites the two property interests of usus and fructus: Usus (use) is the …
A wraparound mortgage, more commonly known as a “wrap”, is a form of secondary financing for the purchase of real property. The seller extends to the buyer a junior mortgage …
Offering owner financing is a sensible way to sell property and extremely common all over the country (it has been estimated that approximately 10%-15% of property sold is now done …
Types of Property Divided in a Missouri Divorce Proceeding When couples go through a divorce, they need to address a variety of issues, including how to divvy up their property …
The Rising Trend of Co-Living Spaces By now, you’ve already heard about co-working. But there’s a new concept on the way: Co-living, which is, in a sense, the co-working equivalent …
What is a Corrective Deed? A Corrective Deed is a special type of deed used to fix problems in deeds that have already been recorded. Unlike other types of …
How to Get a Handle on Your Finances When You are Expecting Your First Child Expecting your first child is simultaneously a thrilling and nerve-wracking experience. There is so much …
When you sell a property, you’re required to disclose information about its condition that might negatively affect its value. If you willfully conceal such information, you could be convicted of …
The following examples of Financial Institution Fraud Investigations are written from public record documents on file in the courts within the judicial district where the cases were prosecuted. California Woman …
Benefits of Month to Month Rentals for Tenants Sometimes tenants need a place to stay but do not want a long term commitment. For these tenants, finding a landlord who …
FLAT FEE LEGAL PROTECTION PLAN FOR YOUR HOME SALE OR PURCHASE Have an attorney review your documents before signing or if you do not have an agent, our office can …
A. WHAT IS AN EASEMENT? An easement is the legal right of a non-owner to use a specific part of another persons land for a specific purpose. B. WHAT ARE …
Imagine being able to make an offer on a house before any other interested home shoppers can even have a look-see. If you have a right of first refusal negotiated …
Real Estate Covenants Law and Legal Definition A covenant is a promise in a written contract or a deed of real property. There are different types of covenants, such as …
The Difference Between a Real Estate Agent and Lawyer If you ask a realtor whether to hire a real estate agent or a lawyer to buy a house, you can …
If you are 62 or older and want money to pay off your mortgage, supplement your income, or pay for healthcare expenses you may consider a reverse mortgage. It allows …
The U.S. federal gift tax is imposed on cash and properties that individuals give to others. It’s paid by the donor, not the beneficiary of the gift, although the Internal …
ABANDONED PROPERTY Landlords are often eager to remove abandoned property of a tenant who appears to have abandoned a leased premises. Missouri law provides a procedure for removing a tenants …
When it comes to legally binding agreements, certain people are always considered to lack the legal ability (or “capacity”) to contract. As a legal matter, basically they are presumed not …
What Is Appreciation? Appreciation, in general terms, is an increase in the value of an asset over time. The increase can occur for a number of reasons, including increased demand …
Crowdfunding has become a loaded term, meaning so much more than just raising money from the public. In fact, it means different things to different people. New and old terms …
Real estate has its fair share of horror stories. One that keeps both first-time homebuyers and seasoned pros up at night is the thought of sellers walking away with their …
It turns out that there are best practice guidelines that successful real estate investors follow, and you can follow them, too. People who meet their investment goals adhere to principles …
Insurance companies view roofs as one of the most important parts of a home. Roofs protect homes from the elements and can prevent home insurance claims. If you have a …
“What is a wrap-around mortgage, and who is it good for?” A wrap-around mortgage is a loan transaction in which the lender assumes responsibility for an existing mortgage. For example, …
What is Gentrification? Gentrification is a general term for the arrival of wealthier people in an existing urban district, a related increase in rents and property values, and changes in …
Top 6 factors affecting real estate valuation Factors to consider when pricing a home are historic sales price, quality of the neighborhood, the market, nearby features and the size, appeal, …
TOP 10 THINGS AFFECTING REAL ESTATE 1. Interest rates & The Economy The Federal Reserve’s plan is to nudge interest rates back to historically normal levels. Concurrently, the passing of …
Cashier’s checks have a reputation for being safe, and that’s what makes them perfect for scams. Whether you’re selling something online or in-person, cashier’s checks deserve extra attention. Get familiar …
What’s “Cash for Keys” in a Foreclosure? If you lose your home to a foreclosure sale, the new owner might offer you a lump-sum of money to voluntarily move out. …
Buying your first home comes with many big decisions, and it can be as scary as it is exciting. It’s easy to get swept up in the whirlwind of home …
When two or more people own a home, either as a joint tenancy or tenancy in common, each individual owns a share (or interest) of the entire property. This means …
What is the gift tax? The gift tax is a tax on the transfer of money or property to another person while getting nothing (or less than full value) in …
What is Blockchain? If this technology is so complex, why call it blockchain. At its most basic level, blockchain is literally just a chain of blocks, but not in the …
Social media marketing is an important part of any real estate business. Its crucial to share the right type of content in the right ways to generate leads and increase …
What Is Title Insurance And Why Is It Important? The median home value in the United States has increased by $16,000 over the last 12 months, according to data released …
Getting Your Home Back After a Property Tax Sale in Missouri Lost your home to a tax sale in Missouri? You may be able to redeem it. If you’ve lost …
In business, there are numerous instances in which you may want to share confidential information with another party. But the key to doing so safely is making sure that the …
Relocation expenses are sometimes paid by employers. If they are, does a departing employee (that is, one who is quitting or resigning) have to repay them? The answer is, it …
As a real estate professional, you are constantly being challenged. You need to make decisions that ultimately affect your buyers and sellers and, of course, your business. These choices can …
A restraint on alienation, in the law of real property, is a clause used in the conveyance of real property that seeks to prohibit the recipient from selling or otherwise …
What do Real Estate Attorneys do? So you’ve decided to take the big step of buying a home. It’s probably the biggest purchase and most expensive investment you’ll ever make. …
What is a Series LLC? A series LLC is a unique form of limited liability company (“LLC”) in which the articles of formation specifically allow for unlimited segregation of membership …
1. Multi-family work better with the changing U.S housing market. High rents and the need for yields have created even more competition for single family homes. This has depleted inventory …
While selling a Kansas City or St. Louis house with a tenant isn’t always the ideal situation. Consider how it will affect them before making any bold decisions. If you …
Does a Real Estate Contract Have to Be in Writing? The statute of frauds is a long-standing legal principle which requires certain agreements, including real estate contracts, to be in …
What Is Special Use Real Estate Valuation? Real estate is normally valued at an amount that reflects its ?highest and best use? for reasons concerning the federal estate tax. In …
Forgery may be thought of as a variety of fraud, but the law does not treat a forged deed like a fraudulent deed that is not forged. A recent case …
The $250,000 (single) / $500,000 (married) home sale gain exclusion is a major benefit of homeownership, but the rules can be confusing if you are not familiar with them. How …
Building a custom home gives you complete control over every aspect of the design. There are dozens of architectural styles to base your custom home on, from historical approaches to …
Here is a possible scenario: Your current home is sold and you must close on your existing home in order to close on a new one. You have to have …
Options for Handling Cemeteries on Private Property Prior to World War II, it was not uncommon, especially in rural areas, for families to bury their deceased family members in a …
1. Death in the Home 2. Neighborhood Nuisances 3. Hazards 4. HOA Information 5. Repairs 6. Water Damage 7. Missing Items 8. Other Possible Disclosures 1. Death in the Home …
1- Failing to Require Personal Appearance Personal appearance is the very foundation of notarization. Except in the few states where online or remote notarization has been legalized, personal appearance is …
1. Know yourself Something that’s clearer to me every day is that there’s no magic, one-size-fits-all solution for building a happy, healthy, and productive life. You have to know yourself: …
What Are You Required to Disclose When You Sell Your Home? When you set out to sell a house, most states require you to make certain ?disclosures.? Disclosures refer to …
Almost every single loan generated to buy a home contains a due on sale clause. This clause is important if a homeowner wants to sell the home without paying off …
What is a Step-Up in Basis? A step-up in basis is the readjustment of the value of an appreciated asset for tax purposes upon inheritance. The higher market value of …
Assignment of contracts is the legal transfer of the obligations and benefits of a contract from one party, called the assignor, to another, called the assignee.3 What assignment of a …
Property Boundaries: Everything You Need to Know Most of us don’t know where our exact property boundaries are located, and many of us don’t care. Most of us don’t know …
To understand a reverse 1031 exchange, you should first make sure you know the ins and outs of a 1031 exchange. There are some key differences between a standard 1031 …
A 1031 Exchange, also called a Starker Exchange or Like-Kind Exchange is a powerful tax-deferment strategy used by some of the most financially successful investors. This is, perhaps, even more …
The law of agency is an area of commercial law dealing with a set of contractual, quasi-contractual and non-contractual fiduciary relationships that involve a person, called the agent, that is …
The phrase “life estate” often comes up in discussions of estate and Medicaid planning, but what exactly does it mean? A life estate is a form of joint ownership that …
Generally, real estate brokers/ agents fall into four categories of representation: Seller’s Agents, commonly called “listing brokers” or “listing agents,” are contracted by owners to assist with marketing property for …
Cash Hidden in the Wall You might think a treasure hunt means diving in the ocean to find sunken ships or exploring ancient ruins in faraway countries looking for hidden …
Rezoning, Variance, or Conditional Use Permit: Which One Can Solve Your Zoning Problem? You’re considering the purchase of a particular property, but know it doesn’t conform to the city’s zoning …
Down zoning is the process by which an area of land is rezoned to a usage that is less dense and less developed than its previous usage. This is typically …
So, you think you know everything there is to know about the legal description of your property. If you had to, you could dig up that old plat and calculate …
Simply stated, “constructive eviction” is a landlord’s act or failure to act that substantially interferes with or permanently deprives a tenant from using its leased premises. Constructive eviction relieves tenants …
PAY RENT ONLINE: LIST OF ONLINE RENT PAYMENT TOOLS Simplify your rent collection. Instead of waiting for those checks to come in the mail or going and collecting the rent, …
We all know the potential problems with renting ? rent hikes, strict pet policies and less control over fixtures and paint color choices, to name a few. But beyond the …
A general home inspection is a necessary and common step in the home-buying process. However, there are other potentially important inspections that could affect your home purchase. Usually suggested by …
Being an abstractor, title agent, escrow/closing agent, notary public, or title examiner is a complex responsibility with customers expecting superior performance and error-free results. For example, a loan closer performed …
Communication Considering that nearly 35% of Americans currently reside in approximately 40 million rental units throughout the country it is surprising that so few of us really understand how to …
Comparing commercial real estate to residential real estate is like comparing apples to oranges. Both are from the same genre, but that is where the similarities end. The following are …
If you’ve ever house-hunted, you’ve probably got a sense that real estate purchases don’t represent consumers at their most rational. Did you like a house or apartment more, or less, …
PRICE Homeowners believe they will save the real estate commission by selling on their own, and while that may be true, studies have also show that homeowners net more money …
You recently moved into your new home. Prior to closing, you had an inspection performed and reviewed the Seller Disclosure. However, after the first rain storm you realize there are …
For the majority of U.S. history – or at least as far back as reliable information goes – housing prices have increased only slightly more than the level of inflation …
Missouri Affidavit as to Death of Grantor The Nonprobate Transfers Law of Missouri, Sections 461.003 to 461.081 RSMo (2012) has been in effect since 1989. While the law is specific …
Transactional Real Estate Law January 17, 2013, By Guest Blogger By Troy A. Rule, Associate Professor of Law Almost every successful company needs physical space in which to operate. Consequently, …
In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their homes on their own, known in the industry as a …
SOURCE UNKNOWN HTTPS://FSBOMIDWEST.COM FSBO VS. AGENT Have you seen the claim that research shows that real estate agents sell homes for 13% higher prices than people who sell their homes …
Did you know that it matters whether or not a person is married when they are buying or selling a house? In Missouri, married people have marital rights to any …
If you’re shopping for a home, odds are you should be shopping for a home loan as well?and these days, it’s by no means a one-mortgage-fits-all model. Where you live, …
Housing Trends Since 1950: The Difference Will Shock You For the last few years, home buyers have done battle with some challenging housing trends: fewer homes to choose from, rising …
Drafting a mechanic’s lien and ?notice of intent? (?429.100) involves crucial steps that can be harmful to your case if overlooked. Whether you forgot to verify the ?just and true …
Airbnb Is Facing an Existential Expansion Problem Tom Slee JULY 11, 2016 Surprisingly, the new Airbnb ad campaign exhorts you not to be a tourist: ?Don’t go to Paris, don’t …
Acknowledgement and jurat certificates are the two most common notarial acts, yet there is confusion about the difference between these forms for many signers. Some notaries even find it difficult …
Employers can get into legal trouble if they ask interviewees about their religion, sexual preference, or political affiliation. Yet they can use social media to filter out job applicants based …
A Lawyers involvement in residential house sales began dwindling in the 1980s with the advent of HUD regulations requiring title insurance for mortgages, secured by residential properties, which were being …
Why Is “Full Disclosure” Important? In business transactions, especially real estate deals, the contract often contains a full disclosure requirement. Full disclosure means being truthful and forthcoming about anything the …
Real estate! It’s the way to make money ? or so some people claim. On the surface, it seems likes like a surefire bet; in reality, it’s usually more headache …
TENANT?S DEFENSES The most common complaints made by tenants deal with the condition of the property. Major problems that affect the habitability of the premises are covered by therelated doctrines …
Real estate wholesaling is similar to flipping except that the time frame is much shorter and no repairs are made to the home before the wholesaler sells it. A real …
You want extra income and you just happen to have extra space in your house. What could be more logical than turning a portion of your home into a small …
REAL ESTATE LAW Transfer-on-Death Deeds A transfer-on-death (TOD) deed, or beneficiary deed, allows an owner of real property to execute a deed that names a beneficiary who will obtain …
NONPOROUS BACKFILL. Soils loaded with clay or organic matter hold water like a sponge, increasing the risk of foundation cracks when the soil freezes and expands. RUSHING THE CURE. Concrete …
Tips on Rental Real Estate Income, Deductions and Recordkeeping If you own rental real estate, you should be aware of your federal tax responsibilities. All rental income must be reported …
By Michele Lerner December 5, 2013 If you?ve toured a newly built model home recently, you may have noticed a few things missing: a formal living room or the once-popular …
1. We’ll return to normal (Anyone remember normal?) The year ahead will see healthy growth in home sales and prices, but at a slower pace than in 2015. This slowdown …
1. Severability Though a legal precaution, this?is perhaps one of the most important clauses in a lease. This clause states that if?one aspect of the lease is found to be …
From the first decision to invest in real estate to actually buying your first rental property, there is a lot of work to be done. This task may be daunting …
Written By: Miranda Marquit Right now, I am in the process of a cross-country move. As part of this move, my husband and I have decided to sell our home. …
Inheritance law governs the rights of a decedent’s survivors to inherit property. Depending on the type of inheritance law your state has, a surviving spouse may be able to claim …
A common public misconception is that “per unit” land values apply universally within a market locale. That is, a three acre site is sometimes thought to command the same “per …
Single-Family Home – The most common definition of a single-family home is: An individual, freestanding, unattached dwelling unit, typically built on a lot larger than the structure itself, resulting in …
by: Andrew Sarazin Encountering a boundary dispute with an adjacent neighbor is a fairly common issue for landowners. There are many ways a boundary dispute can arise. Sometimes, deed descriptions …
A guy walks up to a lady on a New York City street and asks, “How do you get to Carnegie Hall?” And the lady says, “Practice, young man. Practice.” …
?Changes mandated by the CFPB spell the end of “Closings” and the advent of the “Consummation.” The lending process for residential real estate closings is poised for dramatic changes later …
Background The end of World War II marked the beginning of a housing boom throughout the United States. Many returning soldiers became first time home owners with the help of …
Homeowners are getting choosier.?Coldwell banker says?59% of homeowners accepted the first offer on a home sale 10 years back. Now, only 46% do so, suggesting owners are pickier in selling …
Mistake #1 ? Overpricing Everyone wants to realize as much as possible when they list their home for sale. Here in the Lakes Region of New Hampshire, just like the …
After world war two soldiers came home and mass prduced housing in suburbs became popular. ?In the Kansas City Area this is reflected in many subdivisions within the I-435 loop …
11 Reasons Why I Never Want To Own A House Again Kelly Phillips Erb ,FORBES STAFF Homeownership isn’t all it’s cracked up to be. Learn how to find the perfect …
Since the day the first domain was registered in 1985, the Internet has not stopped growing. It has sailed through multiple recessions and one near-collapse and kept on increasing in …
By Adam R. Burrus Mechanic’s liens provide vendors and laborers with an important way of protecting themselves from the danger of not being paid. However, if the liens are not …
IN ABOUT 40 minutes, Cindy Manit will let a complete stranger into her car. An app on her windshield-mounted iPhone will summon her to a corner in San Francisco’s South …
The agent suggests the highest price for your house. If you’re selling your house, get listing presentations from at least three agents, who will tell you what comparable homes have …
7 Negotiating Points In Broker Listing Agreements Most sales of commercial real estate begin when the seller retains a broker. The seller’s choice of the broker can depend upon a …
Maybe its because were taught to find an older mentor. Or maybe its because people who are gray around the temples simply look wiser. Whatever the reason, when you are …
Two-and-a-half years into the U.S. housing recovery, the real-estate industry is rolling out new ways for individuals to invest in the property market. Brokers, property managers and others are helping …
Kristi Taylor can pinpoint the precise moment she let go of the dream of homeownership. It was a few months ago, as she and her husband and infant son were …
Any landlord who wishes to evict a residential tenant in Missouri must follow the steps of the Missouri eviction process. There are number of valid reasons for which a landlord …
Offering owner financing is a sensible way to sell property and extremely common all over the country (it has been estimated that approximately 10%-15% of property sold is now done …
While many investors spend a large amount of time and effort carefully researching the property markets and then finding the top investment, they ignore the role that a professional property …
From the MLS to personal networks, the real estate industry thrives on the timely dissemination of information. Until recently, real estate professionals were the exclusive custodians of that information, and …
Unlike attorneys, real estate brokers do not have the same professional duties of loyalty to their clients. In many states, brokers are permitted by law to engage in “dual agency.” …
The Riskiest Business Property condition disclosure is a major legal risk for brokers today, according to findings from NAR’s new Legal Scan analysis. OCTOBER 2011 | BY G.M. FILISKO The …
Your first priority may be to evict the tenant from the leased premises, which you will be entitled to do if you obtained a judgment for possession. Caution: To avoid …
Would you like a career with a stable and steady income, guaranteed days off and a five-day workweek? Then being a real estate agent is NOT the job for you. …
by Ellen Cannon Published on October 18th, 2012 This is a guest post from Holly Johnson. Holly is a 32-year-old wife, mother of two, and frugal lifestyle enthusiast. She blogs …
The ?open office? environment has become increasingly popular as many corporate clients have made a concerted effort to reduce their real estate footprint while increasing collaboration among employees. The traditional …
Disclosing Defects When Selling a Home When a person is selling a home, they are generally obligated to disclose any material defects?or problems in the property. While laws covering full …
By Chris Seabury ?| Every year, millions of homeowners deal with property taxes. In most situations, when the tax bill comes, if it seems reasonable, most people would pay it …
What if you live in Missouri and have a next door neighbor that has made living next to a living hell?. ?Such as spotlights being placed on the house so …
http://www.bankrate.com/finance/real-estate/to-do-before-hiring-agent-1.aspx
by John Paul Ruiz, QKA, CISP, Director of Professional Development on Jun 29, 2014 On June 26, 2015, the U.S. Supreme Court lifted the ban on same sex-marriages in the …
The main participants in real estate markets are: Owner/user: These people are both owners and tenants. They purchase houses or commercial property?as an investment and also to live in or …
We often hear from taxpayers — all well-intentioned — who lost or seriously compromised their valuable exemptions or Save Our Homes (SOH) protection when they made ?do-it-yourself? changes to a …
What is a Joint Tenancy? Joint tenancy is a form of ownership by two or more individuals together. It differs from other types of co-ownership in that the surviving joint …
By Kansas City Divorce Attorney Mark Wortman on February 8, 2009. The Missouri Court of Appeals for the Southern District of Missouri has just recently upheld the Missouri exemption (protection …
By Kristi Bunge Sounds pretty simple if there are just 10 things to advise Landlords about with regard to fair housing law. Unfortunately there are more than just the 10 …
Renting out part of your home can boost cash flow, but first take a look at what it takes to be a landlord. By Pat Mertz Esswein, August 2011 Homeowners …
Wild fluctuations in the nation’s real estate cycle have taken investors on a roller coaster ride since the early part of this century. From the first decade, marked by overheated …
KC Star 12/4/2015 Over the past five years, the Missouri housing market has been slow to recover. However, some argue the market’s recovery started in 2011. It wasn’t until 2012, …
The Kansas City Star reported this week that there was a 3.5 month supply of homes for sale in Kansas City, Missouri. This makes the current market a very strong …