Property Ownership – How Secure Are You? Real estate is traditionally a family’s most valuable asset, and many laws have been passed to protect it. While most of these laws are set up to protect the owner, their family and heirs, others may have claim on the property. In certain situations, governmental bodies, contractors, lenders,…
Most lenders require homebuyers to carry homeowner’s insurance. This is a hazard insurance policy designed to cover your property against peril. Most homebuyers elect to take out a comprehensive homeowner’s insurance policy. This type of coverage covers the cost of rebuilding your home, your possessions, liability, vandalism, theft, water damage (not flood related) and loss…
Escrow is “a deed, a bond, money or a piece of property held in trust by a third party to be turned over to the grantee only upon fulfillment of a condition,” as defined by Webster. It exists to provide confidentiality and impartiality during a real estate transaction. Escrow exists because buyers, sellers and lenders…
