Lawyers and realtors each have specific roles to play in the sale of any house, and each brings a particular set of skills and expertise to the table. When they work together as a team, their client gets the best of both worlds.
One of the most important terms of a real estate contract is the “closing date.” This is the date that the purchaser remits the balance of funds due and the seller delivers the deed and gives possession of the property to the purchaser.
Hiring the right lawyer may be one of the most important decisions you will ever make. If you have not dealt with different attorneys regarding different matters, you may be under the impression that all lawyers are the same, but nothing could be further from the truth.
New York’s Statute of Limitations ("SOL") is designed to protect homeowners from the unfairness that might otherwise result from foreclosures concerning defaults that occurred so long ago that the homeowner may no longer possess documents, evidence or proof of payments made.
While Borrowers have always had the ability to request Loss Mitigation as a way of resolving a foreclosure, both the public awareness and the legal requirements for Loss Mitigation have dramatically increased since the foreclosure crisis began in 2008.
Most Default Mortgage Servicers consistently refuse to accept a deed in lieu of foreclosure from a defaulting homeowner unless there are no subordinate liens and unless they have obtained a financial statement from the homeowner to ensure he/she does not have adequate resources to repay the loan from their other assets.
Title insurance is an indemnification contract, like many other types of insurance. Just as a life insurance policy does not ensure you will live forever, a title insurance policy does not guarantee that your title is valid, but merely provides the insured with compensation to offset the loss sustained as a result of title not being as insured.
Most residential mortgages are executed by a husband and wife. When you discover that one of their signatures was forged, there are still several means in which your investment may still be recovered:
Whether you have an individual matter or a high volume of cases, there are a variety of factors to consider when deciding which law firm to retain. One of the most important of these factors is the size of the law firm.
When real estate is sold in New York State, the seller must pay a “transfer tax.” If the property is located in New York City, or other municipalities that impose transfer taxes of their own, an additional transfer tax must be paid to the municipality as well.
