| Mortgagee Insurance |
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| 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... |
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| Percolation Tests |
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| A percolation test, or "perc test," is performed on undeveloped land in order to determine whether the land is absorbent enough to support the installation of a septic system. Typically, the test is performed by a hydraulic engineer.More... |
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| Restrictive Covenants |
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| Restrictive covenants are deed provisions that set forth a unique set of rules applicable to given properties. Often the original builder or developer implements the restrictive covenants when a neighborhood is first developed. Generally speaking, the purpose of restrictive covenants is to ensure a standardized appearance for a specific area. Another purpose of restrictive covenants is to control specified activities within the area.More... |
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| Square Footage of a Home |
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| In almost every sale listing for a home, there is some indication of the square footage of the home. How is the square footage of a home determined?More... |
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| Causing Damage to a Neighbor's Property |
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| Generally speaking, if a property owner undertakes an action that results in damage to the property that is owned by his or her neighbor, the offending property owner may be liable.More... |
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