For a very long time, real estate lawyers and title insurance companies have rightly required spouses to join in conveyances of land, even when they clearly do not have an record interest in the property.
No. 1,273 If you are a landowner in Washington County, you probably received your notice of assessment. You have 40 days to file an appeal. We went through this process in Allegheny County twice in the last decade. The experience of Allegheny County should be helpful, but Washington County has some unique problems. The Marcellus […]
No. 1,270 If you would like to read a legal analysis concerning whether the producers of Pokemon Go are guilty of trespass to land or perhaps creating an attractive nuisance, click on this link to a blog called Associate’s Mind. It sounds preposterous, the idea that imaginary Pokemon animals are trespassing on land. After all, […]
No. 1,267 The Common Level Ratio, established by the State Board of Equalization, increased from 1.09 to 1.15, effective tomorrow, July 1, 2016. This means that if a property is assessed at $100,000 and is transferred for lees-than-arms-length consideration, the realty transfer tax was formerly paid on $100,000 x 1.09 or $109,000. Now it is […]
Pittsburgh is tied for third highest cap rate for single family residences as investments among US cities. Cap rate is the ratio between net annual income and fair market value.
No. 1,246 Summary: If you are considering bidding on real estate in a private auction, start by asking for the rules in writing and a copy of the agreement of sale that will be signed by the successful bidder. A sheriff sale is a forced sale for the purpose of liquidating a judgment held by […]
No. 1,232 Summary: Some say that real estate practice for lawyers is making a comeback. Maybe it is. But a young lawyer taking up real estate practice should not be a one trick pony. I read a piece on the ABA Journal Web Site in which a legal recruiter stated that real estate transactional work, […]
The Consumer Finance Protection Bureau has produced a study that suggests participants in electronic closings are better informed and feel more empowered than others who had traditional paper closings. How do they know this? They gave the participants questionnaires. The electronic participants scored higher on knowledge and expressed a higher level of satisfaction, which included feeling empowered.
No. 1,177 On Wednesday, this past week, the Consumer Financial Protection Bureau (CFPB) announced that it had made an administrative error that would require the use of the new combined Truth in Lending/RESPA Disclosure document and new procedures by two weeks. But rather than institute a two week delay from the scheduled August 1 start […]
If it applies to you, you have heard plenty about the the TILA-RESPA Integrated Disclosure (TRID). Be advised that you will undoubtedly hear a lot more before August 1 — the day of implementation. And you have probably heard about the so-called grace period — whereby the feds at CFPB are giving lenders and closers a little bit of slack on the enforcement. Good luck on that.keep looking »