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How to Bring Together Time Deed For Free

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- [Auctioneer] All right, ladies and gentlemen, lets get her goin here. Start me off. Where to go here? How about a$1,000 opening bid? (upbeat music) - Welcome back. Now, my perspective has been developed over 30 years of purchasing as an investor in guiding and training others on how to earn money with tax defaulted property. This government program has been available for over 200 years. So the system is mandated and executed by the local county government, and if property owners dont pay their property tax, the local government, the treasurer, is gonna confiscate the property. And when that property is confiscated, the local government doesnt want it. So what are they gonna do with it? Theyre gonna auction it off for a very low price. Could be only the back taxes. When they do auction it off, theyre actually gonna cancel and wipe out the mortgage. So the local county is getting their direction from the legislature of the state and from the county board of supervisors or the co

Related features

Link age in the Asset Purchase Agreement

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Link age in the Indemnification Agreement

Link age in the Indemnity Agreement

Link age in the Joint Venture Agreement

Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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What is the strongest form of deed?

A Warranty Deed is the strongest deed and warrants to the Grantee: That the Grantor has not previously conveyed the estate or any interest therein to anyone except the Grantee; and. The estate is free from encumbrances.

How do I prove that property of free and clear?

ASK YOUR TITLE COMPANY FOR A PRELIMINARY TITLE ON THE PROPERTY YOU NEED PROOF THAT ITS FREE AND CLEAR. This, coupled with the HUD1 from the purchase, shows that you didnt use a loan to purchase it, and there is no existing lien from a mortgage on the property.

How much does it cost to transfer property in PA?

There is a Transfer Tax of 2% (1% to the state and 1% to the municipality and school district) for all property sales in Pennsylvania on the value of the property or interest being conveyed. This value is not necessarily the sales price. The 2% Transfer Tax is paid at the time of recording.

How do you prove there is no mortgage on a property?

Paid Off Your Mortgage? Prove It. Pro tip 1: Check your homeowners insurance declarations. Once your mortgage is paid off, no mortgagee clause shows up on your insurance policy. Pro tip 2: Another way to show an underwriter you have no mortgage is by producing a copy of Schedule E on your personal income tax returns.

How do you transfer a deed in PA?

What Are the Steps to Transfer a Deed Yourself? Retrieve your original deed. Get the appropriate deed form. Draft the deed. Sign the deed before a notary. Record the deed with the county recorder. Obtain the new original deed.

What deed has the least protection?

Quitclaim Deed provides the grantee with the least protection; it contains no promises or warranties, and only conveys whatever title and interest the grantor has.

What does it mean to own a home free and clear?

Free and clear is a slang phrase describing the situation of someone who gains outright ownership of an asset: That is, it is completely paid off and no creditor has a claim on it. It most frequently applies to real property.

Who pays the deed transfer tax in PA?

Pennsylvania realty transfer tax is imposed at a rate of 1 percent on the value of real estate (including contracted-for improvements to property) transferred by deed, instrument, long-term lease or other writing. Both grantor and grantee are held jointly and severally liable for payment of the tax.

How do I avoid transfer tax in PA?

In Pennsylvania, if a lease will continue for thirty or more years, in order to avoid a transfer tax, it is critical that the lease wording clearly express the parties intent to unconditionally renegotiate the rental rate for any renewal term years beyond the twenty-ninth year and eleven months.

How do I prove that property of free and clear?

ASK YOUR TITLE COMPANY FOR A PRELIMINARY TITLE ON THE PROPERTY YOU NEED PROOF THAT ITS FREE AND CLEAR. This, coupled with the HUD1 from the purchase, shows that you didnt use a loan to purchase it, and there is no existing lien from a mortgage on the property.

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How to Bring Together Time Deed For Free