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In addition to the quantifiable savings, a buyer may consider intangible issues such as [if a] portion of the transfer fee that goes to non-profits, and whether the Buyer can qualify for the lower priced home ([being sold] with a transfer fee) but would be unable to qualify for the [same] higher priced home ([being sold] without a transfer fee ...
In common law jurisdictions, probate is the judicial process whereby a will is "proved" in a court of law and accepted as a valid public document that is the true last testament of the deceased; or whereby, in the absence of a legal will, the estate is settled according to the laws of intestacy that apply in the state where the deceased resided at the time of their death.
Indiana lets qualifying heirs of a person who dies without a will avoid probate through a small estate affidavit. Beneficiaries of a small estate can usually claim bank accounts and other estate ...
Unless a defeasible estate is clearly intended, modern courts will construe the language against this type of estate. Three types of defeasible estates are the fee simple determinable, the fee simple subject to an executory limitation or interest, and the fee simple subject to a condition subsequent. A life estate may also be defeasible.
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In English common law, fee tail or entail is a form of trust, established by deed or settlement, that restricts the sale or inheritance of an estate in real property and prevents that property from being sold, devised by will, or otherwise alienated by the tenant-in-possession, and instead causes it to pass automatically, by operation of law, to an heir determined by the settlement deed.