Homeowner Education

The latest news, tips, and tricks for homeowners

Joint Tenancy

Joint tenancy is a form of property ownership in which two or more individuals own a property with equal interest and enjoy equal rights to

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Joint Liability

Joint liability is the state of two or more people who are equally responsible for paying back a debt. If someone applies for loan, such

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Impact Fees

Local governments often charge impact fees to help fund infrastructure improvements. They typically collect these fees from developers, because new construction requires the expansion and

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HOA

A homeowners association (HOA) is an organization in a subdivision, planned community or condominium that makes and enforces rules for the properties and their residents.

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Grantor

A grantor refers to a person or institution that conveys ownership of a property. It is also an entity that creates a trust, also known

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Gift Deed

This is used to convey the title on real property that is given for no consideration or for only a token consideration. In some states,

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First Lien

A first lien is the first to be paid when a borrower defaults and the property or asset was used as collateral for the debt.

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Fiduciary Deed

These deeds are most frequently used when the seller is acting in a fiduciary capacity, such as the executor or administrator of an estate or

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Fee Simple Defeasible

Fee simple defeasible is a legal term and type of property ownership, where the ownership is dependent on specific conditions. If the conditions of ownership

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