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A real estate contract typically does not convey or transfer ownership of real estate by itself. A different document called a deed is used to convey real estate. In a real estate contract, the type of deed to be used to convey the real estate may be specified, such as a warranty deed or a quitclaim deed. If a deed type is not specifically ...
A due-on-sale clause is a provision in a loan or mortgage that allows the lender to call the loan due upon sale or transfer of the property. Learn about the history, enforceability, and exceptions of this clause in the United States.
Building contingencies into the contract: Most real estate contracts have contingencies that give sellers cause to back out. For instance, the seller may say they will only sell their property if ...
However, a real property within the United States and a real property outside the United States would not be like-kind properties. Generally, "like kind" in terms of real estate, means any property that is classified real estate in any of the 50 U.S. states or Washington, D.C., and in some cases, the U.S. Virgin Islands.
An estoppel certificate is a document used in real estate and mortgage transactions to confirm the terms of a rental agreement and any claims by the tenant. It is based on the legal principle of estoppel, which prevents someone from changing their agreement later.
Equitable conversion is a doctrine of real property law that makes a purchaser the equitable owner of land at contract signing. The seller retains legal title and the risk of loss until conveyance, unless otherwise agreed or modified by law.
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