Sentences with phrase «existing lien on the property»

For example, a requirement that an existing lien on the property must be cleared by a certain date.

The reverse mortgage must be the first lien on the property, so any existing liens on the property, including mortgages, must be repaid in full.

The reverse home mortgage must be the first lien on the property, so any existing liens on the property, including mortgages, must be repaid in full.

The reverse home mortgage must be the first lien on the property, so any existing liens on the property, including mortgages, must be repaid in full before the reverse mortgage can be approved.

Any existing liens on a property in an estate will need to be settled.

The proceeds can be used for any purpose, but any existing liens on the property must be paid off at closing.

The property Title report must reflect that there are no existing liens on the property.

Not exact matches

The Mayor also proposed a plan for City Council to grant the city the power to sell Emergency Repair Program liens that exist on a property to a third party collector (see video above), who would then be in charge of collecting on the debt — saving taxpayer money from footing the bills for emergency repairs and possibly giving landlords more incentive to make repairs themselves.

Lenders first use reverse mortgage loan proceeds to pay off existing mortgages and liens on the property, after which borrowers may use the rest of the funds in almost any way they wish.

My husband and I own property with an existing low - value home on it that is too cost restrictive to remodel with no loans / liens against it.

Social Security number verification A copy of the deed to the property Information on any existing mortgages and / or liens Counseling certificate

The existing home mortgage and any liens on the property are paid off and replaced with a new mortgage.

All existing liens on the home are repaid and the reverse mortgage lien is placed on the property.

If there is an existing second mortgage on the property, such as a Home Equity Credit Line, the entire lien must be subordinated at refinance.

The loan must be secured by the first lien (your existing 1st mortgage) on the property.

The amount a borrower is eligible to receive depends on the age of the youngest borrower, property value, current interest rates, and any existing mortgages or liens that must be settled at closing (existing mortgages can be paid with proceeds from the reverse mortgage).

Also responsible for ensuring that no problems exist with the deed of trust and there aren't any prior liens on the property.

The Buyer must receive, on or before this deadline, true copies of all existing surveys in the Seller's possession pertaining to the Property and must disclose to Buyer all easements, liens or other title matters not shown by public records, of which the Seller has actual knowledge.

Here is a clause to assist you in making sure the seller does not remove anything that the buyer is expecting to receive on closing: «The seller represents and warrants that all existing flooring and floor coverings, drapery tracks, ceiling fans and fixtures, built - in appliances, bathroom mirror (s), heating - ventilating - air conditioning equipment, central vac and accessories and all other items secured by means of nails, screws, plumbing, wiring, ducting and related accessories that are now on the property are to be included in the purchase price except items which are leased or rented and those specifically listed herein and all shall be in working order and free from all liens and encumbrances on completion.»

Responsibilities: • Negotiating, writing and executing real estate investment agreements as well as contracts on behalf of the company • Offering counsel on a variety of legal issues • Advising executives within the company • Working alongside other departments within the company • Advising on contract status, business risks and risk mitigation strategies, and the legal liabilities associated with different real estate related deals including but not limited to: the evaluation of existing property special assessments, restrictions, zoning issues, building codes, lien releases, ADA, etc.) • Conduct title and survey review and perform due diligence on prospective loan deals; prepare and review contracts, and coordinate closings • Researching and anticipating unique legal issues that could impact the company • Reviewing advertising and marketing materials to ensure that they are in compliance with legal requirements • Manage real estate disputes including litigation • Providing training to the company on legal topics • Performing other duties as required or assigned

research on a property title usually conducted by a title company to determine if there exist any outstanding liens against the property prior to a sales transaction.