When it comes to transferring title to real property, there are several options available to individuals or entities. Three of the most commonly used forms of deeds in California are quitclaim deeds, grant deeds, and revocable transfer upon death deeds.

AB 1885, which took effect on January 1, 2021, increased the amount of financial protection. The homeowner exemption amount is based upon the countywide median sale price for a single-family home in the calendar year prior to the year the judgment debtor claims the exemption.

When a borrower defaults on his loan, the bank can take back the property which is the collateral or security for its loan. Most lenders do not want to own these properties, because the maintenance and management expenses add to their costs and decrease profitability. This climate creates a favorable environment for both investors and residential home buyers who are searching for a good deal.

Probate is the judicial process whereby a will is "proved" in a court of law and accepted as a valid public document that is the true last testament of the deceased, or whereby the estate is settled according to the laws of intestacy in the state of residence of the deceased at time of death in the absence of a legal will.

Once the agreement is accepted and signed by all parties, escrow will open. Earnest money will then be deposited, and the escrow company will handle all funds associated with the transaction.

A plat map, also known as a “plat,” shows you how a tract of land is divided into lots in your county. It is drawn to scale and records the land’s size, boundary locations, nearby streets, flood zones, and any easements or rights of way.

WHY TITLE INSURANCE?

Title insurance for property owners, called an Owner’s Policy, is usually issued in the amount of the real estate purchase. It is purchased for a one-time fee at closing and is valid for as long as the owner or his heirs have an interest in the property. Only an Owner’s Policy fully protects the buyer should a covered title problem arise with the title that was not found during the title search. Possible hidden title problems can include:·

What is a Living Trust? Sometimes called an Inter-vivos Trust, the Living Trust is created during the lifetime of the Settlors (as opposed to being created by their Wills after death) and usually terminates after they die and the body of the Trust is distributed to their beneficiaries.

Why does a lender need title insurance? Why does the lender require that I purchase a lender’s title insurance policy when I refinance my loan? What about the original title insurance policy I received when I purchased the home? Do you offer any discounts for title insurance on a refinance transaction?

What is a Living Trust? Sometimes called an Inter-vivos Trust, the Living Trust is created during the lifetime of the Settlors (as opposed to being created by their Wills after death) and usually terminates after they die and the body of the Trust is distributed to their beneficiaries.

California’s builders, in an effort to combat the dual problem of an increasing population and a declining availability of prime land, are increasingly turning to common interest developments (CIDs) as a means to maximize land use and offer homebuyers convenient, affordable housing.