A significant legal myth in the purchase of property is boundary lines. When a home is purchased, even a new home, the mortgage company typically requires a “survey.” There are three types of real estate surveys.
With improved real property (which means a structure is built upon it), a purchase and mortgage usually requires a boundary survey. This is a legal term of art and generally means the property is the size described, such as a one-half an acre and the improvement (typically a home) is within the legal boundaries of ... Read More
21
May2015
18
Dec2014
In matters involving real property (i.e. land and immovable property on land), in general, boundaries and possession can be known through title. However, even with the proper boundaries and title defining a parcel of land, there can be disputes that arise between neighbors or landowners about who owns what, including not only land, but also structures on land.
Take for example a patch of land which Neighbor A has turned into a garden. By law, the land that Neighbor A uses as a garden is actually past the boundary ... Read More
31
May2011
Even in a down economy and exponential change in everything in every facet of life with technology and globalization, purchasing a home is still a key part of the American dream. Everything happens quickly in the electronic age, and the purchase of a home is no exception.
However, given it will take 20 to 30 years to pay a home off, the process should not be rushed. There are a lot considerations that should ... Read More