Sentences with phrase «equitable interest»

A new statute and corresponding regulation change addresses equitable interests in property.

From my understanding, rental credits are a big no - no, as it makes the deal a financing agreement with equitable interest.

All properties offered are either owned by us, under contract and selling equitable interest, or offered in conjunction with a business associate.

Might that be viewed as equitable interest because it is helping with the costs in a future sale?

The contributions can be calculated and the equivalent equitable interests recovered.

Or does equitable interest not count because it is specifically for closing costs and isn't attributed directly to the purchase price?

In either case he may have very well had equitable interest in the property.

Accordingly, in a normal case the lender will be permitted to insist on enforcement of the «due - on» clause when the trustor - vendor's entire equitable interest in the security has passed to the vendee.

An essential characteristic is that the claimant, the would - be beneficiary, must have provided the property or equitable interest vested in the person bound by the trust: Waters at p 399.

Moreover, the beneficiary will no longer have the benefit of the built - in incentive to prompt payment and preservation of the property which the trustor - vendor's equitable interest provides.

The mother - in - law brought court action for the $ 150,000 that she had invested in the property and sought a declaration of entitlement to a proportionate equitable interest therein, and sale, or a similar remedy for unjust enrichment.

Where a person who is the owner beneficially of property — and the legal estate is vested in another as trustee for him — makes a declaration of trust, the practical effect amounts, or is capable of amounting, to the «getting rid of» a trust or equitable interest then subsisting.

A reverse mortgage is a mortgage arrangement where you keep the title to your property and the bank sends you payments or a lump sum of money based on the equity in your home in exchange for equitable interest.

In real estate agencies relationships, all parties in title are required to sign a listing agreement, it doesn't mean the heirs who may have some future equitable interest, but those holding legal title.

My understanding is that in the lease option contract, to avoid equitable interest issues, you can't say that the option fee is any sort of credit or down payment toward the home.

But anywhere between 20 and 50, just so you ave equitable interest is fine.

I was perfectly willing to deal through the wholesaler and never tried to circumvent his contract, but I was not able to determine his legal equitable interest.

So as long as there's equitable interest by placing it under contact and having an EMD, it's good to go.

Once that occurs, you have equitable interest in t6he property and can market it to your rehab buyers.

With equitable interest, you are legally allowed to market the property — no different than it would be legal for the owner to market the property himself (FSBO).

On April 21, Harris Farm Markets paid a $ 1 million deposit to About Life, which it is arguing gives it an equitable interest in the site.

Some lenders are feeling more confident in the market and believe that housing prices will continue to rise and are willing to take on the bigger risk that comes with completely financing a home for a borrower who has no «skin in the game» or no equitable interest in the property.

«Bankruptcy estate» is a really broad concept that means all legal and equitable interests you possess on the date you file your case.

7) As I suggested regarding ACA Capital Holdings, they ended up owned by their policyholders, who get an equitable interest in the assets of the company, though not enough to settle their claims.

However, as the trustor - vendor's equitable interest diminishes through payment by the vendee, his incentive to prevent default — as well as his incentive to prevent damage to or waste of the security — also diminishes, until the moment when his entire equitable interest has passed to the vendee.

As long as the trustor - vendor's equitable interest in the security remains significant, he retains a real incentive to prevent default, and the credit standing of his vendee would not afford sufficient justification for enforcement of the «due - on» clause.

«Even though the airline may not consider the airline miles as property of the holder, bankruptcy law requires that a debtor include all «legal and equitable interests» on his or her schedules when filing for bankruptcy,» Connolly says.

If the Act were to say that a registered owner could create a kind of interest only if it was registered, it would have to be draconian, because the law naturally tends to treat a failure to create a legal interest as creating an equitable interest.

Section 27 seems to show, for example, that a transfer or charge doesn't operate at law until the system actually registers it (but can give an equitable interest).

For example, a contract can create an equitable interest in land if it's specifically enforceable.

• Where a document that would create a legal interest in land in Ontario is void for that purpose, a person might still get an equitable interest.

But two things can reduce any loss: the document will often still create an equitable interest; and the Ontario Land Titles Act may guarantee the interest.

A person would have an equitable interest where both a person had agreed to create the legal interest and a court would order specific performance of the agreement.

The husband filed an Answer claiming a deduction for property owned at the date of marriage, an equitable interest in property owned by the respondent and spousal support for him.

As this was a case of first impression, the Virginia Court of Appeals looked to case law from other jurisdictions, including Siragusa v. Siragusa, 843 P. 2d 807 (Nev. 1992), from the Nevada Supreme Court, which recognized the tension between the federal supremacy clause and the equitable interests of the state in not allowing one spouse to deprive the other of marital property.

The court was critical of the approach taken in Ruralcorp which was said to have consisted of mere assertion (that the plaintiff was not a shareholder of the subsidiary) and a failure to understand the distinction between a shareholder of record and someone simply claiming an equitable interest in the shares (the proper position being that only the latter could not bring a derivative claim because a company does not recognise equitable interests).

In Georgia, each spouse has an equitable interest in all marital property acquired during the course of the marriage.

If you want to delve into all the arguments about what that means, search for the legality of wholesaling and «equitable interest» in this forum.

Options are generally used by developers, a letter of intent isn't that strong for financing, obtaining permits or breaking dirt, a good option consideration is an equitable interest in the contract, but often seen with enough interest to allow pre-construction requirements.

Should there be some regulation of wholesalers out marketing their «equitable interests»... probably.

The equitable interest argument is weak, IMO, when you are talking to bureaucrats.

@John Horner That was my thought when I asked the executive director about marketing an equitable interest vs. marketing the property.