Questions to a Tampa Bay Real Estate Attorney
What is a Purchase Offer?
A purchase offer is a legal document that contains details of an offer to buy a property. If both the buyer and the seller agree to the offer and sign it, the document becomes legally binding.
What is Title Insurance?
Title insurance protects a home owner from any legal claims against the property that may not have come up during the title search. The title search delves into the history of the property to see if there are any liens on the property that may not have been satisfied.
What Is A Deed?
A deed is the legal document that claims ownership of a property. The deed is recorded in the county hall of records and passes from owner to owner as property is sold and transferred.
What Is Foreclosure?
Foreclosure is the legal process of ending a loan agreement on a home. The process involves the lender seeking a legal “foreclosure” of the terms of the loan agreement. Once foreclosure is completed the home becomes the property of the lender and the original home owner loses all legal rights to the property. In short, it’s the process of taking possession of a mortgaged property as a result of someone’s failure to keep up mortgage payments.
To learn more about your issue regarding real estate, foreclosure, estate planning, or mediation, contact your Tampa Bay real estate attorney at Brown & Associates Law & Title today!