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Transfer the property to themselves and then sell it and pocket the cash, or get a cash-out refinance mortgage on it, pocket the money, and never make a payment Find a buyer and sell the property ...
Thus, if Oscar purports to sell a piece of land to Alice for $100,000, and the next day purports to sell exactly the same piece of land to Bob for another $100,000, then whichever of the two buyers is the first to reach the recording office and have the sale recorded will be deemed the owner of the property.
The closing date is set during the property negotiation phase and is usually several weeks after an offer is formally accepted. [2] At a high level, the closing typically involves the following parties: the seller, the buyer, real estate agents, attorneys (depending on the state), the mortgage lender, and the settlement agency (also known as a ...
Properties that are sold on the basis of equitable title have a legal chain of title intact, and a recorded transfer with the local municipality. Legal title is actual ownership of the property as when the property has been bought, the seller paid in full and a deed or title is properly recorded. Equitable title separates from legal title upon ...
Somerset County property transfers recorded in the Recorder of Deeds office between Nov. 27 and Dec. 1.
When you receive property from a trust, you have three primary options: occupy the home, sell it or rent it out.Each choice has its pros and cons. For example, if you receive a home without a ...