Easily Hide Demanded Field in the Contract For Deed

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How to Hide Demanded Field in the Contract For Deed

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- Hey guys, Clint Coons here, and in this video, I want to talk about the use of deeds, and put a little different spin on it that you may not be aware of, on how you can go about deeding your property without anybody knowing. Okay, lets get started. (lively rock music) All right, so heres the deal. If youve bought property before, you know what a deed, how a deed works, right? People get a deed, they transfer property to someone. You receive your deed if youve bought the property. You take that deed down to the county recorder. You record it right away. And now youre listed as the legal owner on title to that real estate, so the whole world at large knows. So a lot of people assume that in order to transfer title for a legally enforceable deed, you have to record it. Well, that is not the case. When youre transferring title to property, the recording aspect of a deed isnt necessary. Now, its important. Dont get me wrong, all right? You want to protect yourself against claims

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What are the disadvantages of a contract for deed?

A major drawback of a contract for deed for buyers is that the seller retains the legal title to the property until the payment plan is completed. On one hand, this means that theyre responsible for things like property taxes. On the other hand, the buyer lacks security and rights to their home.

What is a common document used to eliminate the lien of a land sale contract?

Grant Deed A legal document used to transfer interest in real property in which the grantor guarantees that the property hasnt been sold to another party and the property is free of liens.

Why would a contract for deed be attractive to certain buyers?

Why would a Contract for Deed (Installment Sale Contract) be attractive to certain buyers? Buyers who can only make a small down payment with monthly installments. Usually they must meet certain conditions, and the Contract for Deed does not require conveyance (transfer) within the same year.

What does it take to be enforceable a contract for the sale of real property?

The contract must be in writing and there must be an offer and an acceptance of said offer. In order for a real estate contract to be enforceable by law, it is required to be in writing. 2. The contract must have mutual assent and legal purpose.

What are the advantages of a contract for deed?

In a typical contract for deed, there are no origination fees, formal applications, or high closing and settlement costs. Another important feature of a contract for deed is that seizure of the property in the event of a default is generally faster and less expensive than seizure in the case of a traditional mortgage.

What best describes a contract for deed?

Contract for deed is a contract for the sale of land which provides that the buyer will acquire possession of the land immediately and pay the purchase price in installments over a period of time, but the seller will retain legal title until all payments are made.

Why would a contract for deed be attractive?

Advantages of a contract for deed Permitting a quicker sale, without waiting for mortgage approval. This can be attractive if the buyer needs to move quickly or the seller wants a quick sale. Allowing the sale of property that is difficult to finance through a commercial lender.

What is an advantage of a contract for deed quizlet?

What are some buyer advantages to using a contract for deed? Lower down payment and closing costs, more flexible financing criteria, chance to improve credit score, tax benefits.

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