3 DIFFERENT TYPES OF COMMERCIAL REAL ESTATE LEASES
3 Different Types of Commercial Real Estate Leases There are three basic types of commercial real estate leases. These leases are organized around two rent calculation methods: “net” and “gross.” …
WHAT IS A NOVATION AGREEMENT? NOVATION VS. ASSIGNMENT
Novating a contract Sometimes businesses enter into agreements, which they later need to give up, be it because of internal restructuring or following an asset purchase. In these types of …
WHAT IS A GIFT OF EQUITY AND HOW DOES IT WORK?
When homeowners sell the family home to a loved one, they may wish to do so at a discounted rate. When this happens, the difference between the home’s market value …
WHAT IS A GIFT OF EQUITY?
When homeowners sell the family home to a loved one, they may wish to do so at a discounted rate. When this happens, the difference between the home’s …
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QUIT CLAIM DEED
Quitclaim Deed Quitclaim Deeds can be complicated legal documents. They are commonly used to add/remove someone to/from real estate title or deed (divorce, name changes, family and trust transfers). Last …
PURCHASING A PROPERTY SUBJECT TO
What Buying Subject-To Means Buying subject-to means buying a home subject to the existing mortgage. It means the seller is not paying off the existing mortgage. Instead, the buyer is …
ASSIGNMENT AND ASSUMPTION AGREEMENTS
The Assignment and Assumption Agreement An assignment and assumption agreement is used after a contract is signed, in order to transfer one of the contracting party’s rights and obligations to …
WHAT IS A LIMITED PARTNERSHIP?
What Is a Limited Partnership (LP)? A limited partnership (LP)?not to be confused with a limited liability partnership (LLP)?is a partnership made up of two or more partners. The general …
WHAT IS A REAL ESTATE ATTORNEY AND WHEN DO I NEED ONE?
Buying a home isn?t just a simple purchase; it?s also a legal transfer of a property from one entity to another. Because the legal side of this transaction can be …