Buying property can be a great investment, but the purchase comes with a lot of paperwork. Lenders protect their money by requiring buyers to sign documentation associated with the loan. Various state laws require different paperwork, but Tennessee operates as a Deed of Trust state. Ultimately, a deed of trust is a legal document that ties the buyer and lender together until the loan is paid off. We take a closer look at what this means when buying property.
Working in the field of real estate law, much of what we do is preventative. To people who are careful, hire a real estate lawyer, and get everything right the first time around, the dangers involved in real estate transactions might feel very abstract. Make no mistake: the dangers are very real.
Topics: Deed, Nashville Real Estate, Nashville Real Estate Attorney, Nashville Real Estate Laywer, Quiet Title, Quiet Title Lawsuit, Residential Real Estate, Residential Real Estate Law, Tax Sale, Title
If you are financing your home, you will either sign a mortgage or a deed of trust. Which of these you will be signing is almost entirely a function of what state you live in. Most people are more familiar with mortgages, but if you live in a state where deeds of trust are the norm, it’s essential that you understand the difference between the two. As a prologue to this, it is first necessary to talk about promissory notes.
In the world of real estate law, deeds frequently must be corrected. In fact, many property owners will eventually be faced with the task of making alterations to their deeds, and most will not know how to go about doing it. That is our topic for today, so we’ll start with the basics…