Bankruptcy

The Homestead Declaration must be notarized and then filed in the Recorder’s Office of the county in which the property is located. The Recorder’s Office charges a recording fee (currently $20/first page plus $3 for additional pages). How do I Homestead My house in Nevada? To be eligible for the…

With inheritance cash loans, you borrow against your inheritance, using your inheritance as collateral for the loan. Despite being called a loan, you typically cannot get an advanced inheritance loan from a traditional lender. Can I get an advance on my inheritance UK? Yes. Your credit rating is not related…

Transfer-on-Death Deeds for Real Estate North Carolina does not allow real estate to be transferred with transfer-on-death deeds. Does North Carolina have beneficiary deeds? North Carolina Beneficiary and Executor Deed Information In North Carolina, title to real property vests in the decedent’s heirs upon death, and a special proceeding is…

What does escrow mean in simple terms? What Is Escrow? Escrow is a legal arrangement in which a third party temporarily holds money or property until a particular condition has been met (such as the fulfillment of a purchase agreement). How does escrow work in M&A? An escrow arrangement is…

What does assignment mean on a mortgage? What Does Assignment Of Mortgage Mean? An assignment of mortgage is a legal term that refers to the transfer of the security instrument that underlies your mortgage loan − aka your home. When a lender sells the mortgage on, an investor effectively buys…

A living trust never needs to be filed with a court, either before or after your death. The probate court isn’t involved in supervising your trustee, the person you name in the trust document to handle the distribution of the trust assets. Are living Trusts recorded in California? Living Trusts…

If you miss payments or you don’t pay the right amount, your creditor may send you a default notice, also known as a notice of default. If the default is applied it’ll be recorded in your credit file and can affect your credit rating. An account defaults when you break…

A power of sale clause gives your lender the right to sell your home if you don’t pay and wind up defaulting on your mortgage. Judicial foreclosure is the legal process in judicial foreclosure states that your lender will follow if they need to foreclose on the home. What is…

You may be able to get a judgment lien against someone’s property if you sue him for money he owes you and wins. State laws vary about how to get a judgment lien and what the lien attaches to; in some states, the lien is automatic, while in others, you…

How Long Does the Typical Foreclosure Process Take in Virginia? A property can be foreclosed in Virginia in as little as 60 days if it foreclosed through the non judicial foreclosure process and the borrower does not contest or stall the proceedings. How long do foreclosures take in Virginia? The…

Definition from ASC Master Glossary Liquidation: The process by which an entity converts its assets to cash or other assets and settles its obligations with creditors in anticipation of the entity ceasing all activities. What is liquidation in accounts? In the accounting world, liquidation refers to the process of selling…

Therefore Constructive notice is knowledge of those facts which a court imputes on a person. If the circumstances indicate that a reasonably prudent person ought to have known a particular fact related to the transaction of transfer, then he will be deemed to know it. What is meant by constructive…

A motion made under Federal Rule of Civil Procedure 12(c) (or a similar state rule of procedure where available) can be used to attack the sufficiency of an opponent’s pleadings and the viability of their underlying claims prior to trial. What are the 3 most common post trial motions? The…

What is the Z alpha? In my experience, Zα indicates the critical value where the right-tailed area under a standard normal distribution is α, i.e. P(Z>Zα)=α With this rule, if α=0.05, then. Zα2=Z0.025=1.96 and Z1−α2=Z0.975=−1.96. However, in some internet sources, Zα is defined as the inverse function of the standard…

How do you use the empirical rule? How Is the Empirical Rule Used? The empirical rule is applied to anticipate probable outcomes in a normal distribution. For instance, a statistician would use this to estimate the percentage of cases that fall in each standard deviation. Consider that the standard deviation…

The Fair Credit Reporting Act (FCRA), Public Law No. 91-508, was enacted in 1970 to promote accuracy, fairness, and the privacy of personal information assembled by Credit Reporting Agencies (CRAs). What is the purpose of the Fair Credit Reporting Act? The Act (Title VI of the Consumer Credit Protection Act)…

An initial escrow deposit is the amount that you will pay at closing to start your escrow account, if required by your lender. This initial amount may be different from what you pay monthly to maintain the escrow account. This initial amount is listed in section G on page 2…

Digital ReadoutsDigital ReadoutsA digital readout (DRO) is a numeric display, usually with an integrated keyboard and some means of numeric representation. What does a digital readout do? The Digital Readout (DRO) displays the location of the tool tip as the carriage or cross slide moves. It is not connected to…

There are two major differences between a construction lien and a mechanic’s lien. One is the people who may place these liens, and the other is the priority that lien has if it’s competing with other claims against the home or commercial space. How do I file a construction lien…

Article 9 is a section under the UCC governing secured transactionssecured transactionsIn finance, a secured transaction is a loan or a credit transaction in which the lender acquires a security interest in collateral owned by the borrower and is entitled to foreclose on or repossess the collateral in the event…