Prepaid Legal Service’s Top 5 Request Categories.
Posted by Cliff Tuttle © 2010
A large prepaid legal service provider, Prepaid Legal Services, Inc., published its list of the top 5 categories of requests for its services last year. They are:
Real Estate, Landlord/Tenant Issues and Foreclosure – Approximately 358,000 requests for legal services that include residential and commercial real estate transactions, landlord and tenant issues [...]
Real Estate:The Coming Disclosure Boom: Who is the Real Beneficiary?
So who benefits from all of these disclosures? If the disclosures are made fully and correctly, it is primarily the party giving the disclosure. Later, when a problem arises, the buyer/borrower cannot claim that he/she was not informed of the risk. The more comprehensive the disclosure, the more effective it usually is for this purpose. One page grows to two, then five. One disclosure is replaced by two, then five. Signatures are required on every one of them. The obvious purpose is to prove that the consumer actually laid eyes on the disclosure document, however fleetingly. Some even require that the signatory certify that he or she has read and even understood it. Some documents require initials on every page. With a keystroke in a check box, the preparer of a two hundred page loan package can require initials on almost every one of the pages. I have encountered borrowers at loan closings who were physically unable to sign and initial all of the required documents in the loan package.