Usury
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is defined as the charging of an interest rate that is in excess of that allowed
by law. It has three essential elements 1. a loan of money 2. an absolute
obligation that the principal is repaid 3. exaction of a greater compensation
allowed by law.
Acknowledgment
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, Acknowledgement is a legal term that refers to a declaration that affirms a
person acted on their own free will. In the real estate lending industry,
acknowledgement is often required for a deed and other papers.
Reservation
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A clause in a deed of real property whereby the grantor, one who transfers
property, creates and retains for the grantor some right or interest in the
estate granted, such as rent or an Easement ,a right of use over the land of
another.
Easement Creation
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easement by express grant, easement by express reservation, easement by
reference to a plat, easement by statute.
1. implication
2. prescription
3. estoppel
4. necessity
Death on the Property- Disclosed not Disclosed
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NOT- suicide, natural causes or accidents unrelated to the condition of
property.
, YES- condition of premises, murder, unnatural
Causes of Forces sale of TX Homestead
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Non payment of Maintenance Liens, Bankruptcy, Homestead may not be a
Yacht, Violates Drug Laws, Intent to defraud a creditor, A lien existed prior
to designation, Renouncing Homestead rights before they were instated.
Limited homestead to 125k if claimant filed for bankruptcy within 1,215 days
after acquiring homestead.
Types of Ownership
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fee simple, life estate, leasehold estate, concurrent ownership
Wills
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a legal document that tells how an estate is to be distributed when a
person dies
Payments from the TREC recovery trust account
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is defined as the charging of an interest rate that is in excess of that allowed
by law. It has three essential elements 1. a loan of money 2. an absolute
obligation that the principal is repaid 3. exaction of a greater compensation
allowed by law.
Acknowledgment
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, Acknowledgement is a legal term that refers to a declaration that affirms a
person acted on their own free will. In the real estate lending industry,
acknowledgement is often required for a deed and other papers.
Reservation
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A clause in a deed of real property whereby the grantor, one who transfers
property, creates and retains for the grantor some right or interest in the
estate granted, such as rent or an Easement ,a right of use over the land of
another.
Easement Creation
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easement by express grant, easement by express reservation, easement by
reference to a plat, easement by statute.
1. implication
2. prescription
3. estoppel
4. necessity
Death on the Property- Disclosed not Disclosed
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NOT- suicide, natural causes or accidents unrelated to the condition of
property.
, YES- condition of premises, murder, unnatural
Causes of Forces sale of TX Homestead
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Non payment of Maintenance Liens, Bankruptcy, Homestead may not be a
Yacht, Violates Drug Laws, Intent to defraud a creditor, A lien existed prior
to designation, Renouncing Homestead rights before they were instated.
Limited homestead to 125k if claimant filed for bankruptcy within 1,215 days
after acquiring homestead.
Types of Ownership
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fee simple, life estate, leasehold estate, concurrent ownership
Wills
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a legal document that tells how an estate is to be distributed when a
person dies
Payments from the TREC recovery trust account
