| Foreclosure and Redemption of Residential Purchase-Money Mortgages |
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| Typically, a purchaser of residential real estate pays for the property with funds that are obtained from a lender, called the mortgagee, through a mortgage transaction. In exchange for the funds, the purchaser, called the mortgagor, promises to repay the funds and gives the mortgagee a security interest in the property to secure the repayment. In the event that the mortgagor does not repay the funds as required by the mortgage document or is otherwise in default, the mortgagee may foreclose on the mortgage. More... |
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| Common Areas |
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| With various forms of property ownership, including condominiums and timeshares, property owners become liable for common area maintenance fees. Such fees vary widely from property to property. In fact, common area maintenance fees can be quite expensive. Hence, it is an important area of consideration for all property owners and prospective property owners. More... |
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| Bi-Weekly Payment Plans |
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| Today, many homeowners opt to re-pay their mortgage obligations through bi-weekly payment programs. In fact, many mortgage lenders allow homeowners to make the election when the homeowner obtains the financing to purchase a new home.
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| Property with a View |
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| Many homeowners purchase property because of the view. In fact, a good view can add significantly to the value of a home. Generally speaking, however, a property owner has no right to a view. More... |
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| Residential Leases and the Tenancies Created |
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| A lease is defined as a contract by which a landlord transfers to a tenant a leasehold interest in property. The leasehold interest is a possessory right to the quiet enjoyment of habitable premises. The lease agreement sets out the rights and duties of the landlord and the tenant during the lease period. More... |
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