The Real Estate Disputes And Partition

Written by Mark Walters


Continued from page 1

The court will hold a hearing to "determinerepparttar share of interest inrepparttar 135637 property sought to be divided of each ofrepparttar 135638 owners or claimants, and all questions affectingrepparttar 135639 title..."

In other words... when those who have an undivided interest in a property can't agree on disposalrepparttar 135640 court can do it for them.

Here's another example of partition in action:

If an ex-wife or ex-husband refuses to sell their home or deed their interest torepparttar 135641 other (andrepparttar 135642 real estate is not mentioned inrepparttar 135643 divorce decree)repparttar 135644 only wayrepparttar 135645 home can be sold is through a partition action. When a husband and wife buy a home together, they own it as "tenants byrepparttar 135646 entirety". Uponrepparttar 135647 death of one spouse,repparttar 135648 surviving spouse automatically becomes sole owner ofrepparttar 135649 property. This is known asrepparttar 135650 "right of survivorship".



Mark Walters is an investor-entrepreneur helping other investors from his Web pages at http://www.Lease-Option-Sub2.com


Late Mortgage Payments Sabotage PMI Cancellation

Written by Mark Walters


Continued from page 1

What if you bought a home in Southern California andrepparttar value shot up 40% during a ten month period? That's not covered inrepparttar 135636 Homeowners Protection Act, but most lenders will listen to a request to cancelrepparttar 135637 PMI... but not duringrepparttar 135638 first two years ofrepparttar 135639 loan. After two yearsrepparttar 135640 lender will require thatrepparttar 135641 value ofrepparttar 135642 home has increased torepparttar 135643 point whererepparttar 135644 loan is 75% or less ofrepparttar 135645 potential selling price. Then they may releaserepparttar 135646 buyer from PMI premiums. You must ask!

WARNING! THIS CAN BE EXPENSIVE! Many homeowners make a huge mistake when they are late with mortgage payments. If you have a poor payment historyrepparttar 135647 lender is not required to liftrepparttar 135648 PMI. You will be out a huge amount of money... over many year as you continue to make those PMI payments... even though your loan balance is well withinrepparttar 135649 lenders normal limits.

PMI makes it possible to buy a home with a small or no down payment, but don't be fooled. It is very expensive and every homeowner should do what's necessary to get rid of it as soon as possible.



Mark Walters is an investor-entrepreneur helping other investors from his Web pages at http://www.Lease-Option-Sub2.com


    <Back to Page 1
 
ImproveHomeLife.com © 2005
Terms of Use