Real Estate Newsletters

Fences -- Livestock

Nearly every state and/or locality has a law with regard to fences and livestock. Generally speaking, the laws fall into two categories: open range and closed range. As the matter is governed by state law and local ordinances, the applicable law should be consulted for further details.

Legal Research on Real Estate Law

Today, more so than ever before, non-lawyers have occasion to conduct legal research. A question involving real estate law may provide such an opportunity. The process can be quite daunting.

Mortgage Loans with Balloon Payments

A mortgage loan with a balloon payment provision is very different from a traditional mortgage loan. Usually, mortgage loans with balloon payment provisions are second mortgages as opposed to first mortgages (also known as purchase-money mortgages).

Presentation of and Response to Offers to Buy Real Estate

All offers to buy real estate must be presented to the seller or his agent as soon as possible. That means that as soon as the buyer's offer is made available to the listing agent, that offer must be presented to the seller. The listing agent has no discretion in whether to present an offer to the seller. All offers must be presented, even if the listing agent believes that the seller will not accept the offer.

Wrap-Around Mortgages

A wrap-around mortgage refers to a type of loan transaction. With a wrap-around mortgage, a lender (often the seller of property) assumes or continues responsibility for an existing mortgage and makes a new mortgage for an additional sum which essentially "wraps" around the old mortgage, because the lender will make the payments on the old mortgage.