| 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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| Mortgage Loans with Balloon Payments |
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| A mortgage loan with a balloon payment provision is very different from a traditional mortgage loan. Usually, mortgage loans with balloon payment provisions are second mortgages as opposed to first mortgages (also known as purchase-money mortgages).More... |
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| Inspection and Use of Fireplaces |
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| For many home buyers, a fireplace is an attractive feature. In connection with the purchase of a home, it is important that the home inspection include the fireplace or fireplaces located in the home.More... |
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| Lead Hazards |
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| The issue of lead hazards is of particular concern with regard to dwellings that were built prior to 1978. In fact, the presence of lead, lead dust, or lead-based paint chips presents serious hazards to children as well as adults.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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