7/2/2015. Water Rights. Who Owns the Water in the State Of Montana? A Bit of History.
|
|
- Beatrice Mathews
- 5 years ago
- Views:
Transcription
1 Water Rights Who Owns the Water in the State Of Montana? All surface, underground, flood, and atmospheric waters within the boundaries of the state are the property of the state for the use of its people... (Article IX, section 3(3) Constitution of the State of Montana) Water rights holders do not own the water itself. Instead, they possess a right to use the water, within state guidelines. Accordingly, Montana law notes: [a] water right means the right to use water... (section , MCA) A Bit of History. Prior to 1973 Montana was solely an appropriate state. First in time of use, first in right to the water. If the parties did not agree on who was entitled to water they went to the District Court and asked that their rights to the water be adjudicated. The Court entered a decree setting forth everyone s priorities relative to water from a particular stream or water source. These were then referred to as decreed rights. 1
2 After 1973 All persons in the state who claimed an entitlement to use water were asked to file claims with the Department of Natural Resources and Conservation (DNRC). DNRC would then coordinate the adjudication of those claims so that all claims within the state would become permit authorizations. By 1983 over 200,000 claims had been filed. It was estimated that it would take another years to complete the adjudication process due to a lack of staff and funding. Legislature allocated 25 million dollars to the adjudication effort and enacted legislation establishing water rights transfer fees. Montana Water Rights Act 1979 the legislature passed a law that directed the state to adjudicate not one basin at a time, but the entire state simultaneously. Established the Montana Water Court located in Bozeman, Montana and the Montana Reserved Water Rights Compact Commission. This entity is responsible for negotiating on behalf of the state with the federal and tribal entities to quantify the federal and tribal reserved water rights. The Adjudication Process Claims should have been filed by April 30, 1982 or there is a presumption of abandonment. DNRC staff investigates claims for a given source of water such as a stream. Looks at aerial photos of area to determine irrigation patterns and history. Staff will also conduct interviews and make onsite inspection of points of use and points of diversion. This information is provided to the water court. A Preliminary decree is entered by the water court and is made available to all claimants involved 2
3 The Adjudication Process When all issues have been resolved the Water Court issues a final decree. The decree contains: Flow rate Priority date Beneficial use Time and place of use Source of water; and place and means of diversion (section (6), MCA). If you wish further information as to the current status of the water rights adjudication project in the state of Montana see: dnrc.mt.gov/wrd/water_rts/adjudication Water Rights Filed Claims Adjudication of claim By Court decree or Water rights evidenced by filed claims Unfiled Claims domestic wells less than 35 gallons per minute. still have priority depending on development date. Share rights. Canals, ditch companies, lakes, etc. 3
4 4
5 Buy Sell Agreement Section (7) MCA provides that any written agreement to transfer land must contain the following disclosure: "WATER RIGHT OWNERSHIP UPDATE DISCLOSURE: By Montana law, failure of the parties at closing or transfer of real property to pay the required fee to the Montana Department of Natural Resources and Conservation for updating water right ownership may result in the transferee of the property being subject to a penalty. Additionally, in the case of water rights being exempted, severed, or divided, the failure of the parties to comply with section , MCA, could result in a penalty against the transferee and rejection of the deed for recording." MAR Buy Sell Language Water: All water, including surface water or ground water, any legal entitlement to water, including statements of claim, certificates of water rights, permits to appropriate, exempt existing rights, decreed basins or any ditches, ditch rights, or ditch easements appurtenant to and/or used in connection with the property are included with the property, except 5
6 Closing Buyer agents : What is your buyer getting? MAR Acknowledgement of water rights information form; Does a buyer s agent have any obligation to verify water rights? Can you look to the preliminary title report for information? Exception no. 5 of Standard form title commitment: (c) water rights, claims, or title to water, whether or not (they) are shown of public record Closing Who is going to prepare transfer documents? Who will pay transfer fee(s)? Who will tender fees and necessary documents to DNRC? Federal Reserved and Indian Reserved Water Rights Montana's Reserved Water Rights Compact Commission (RWRCC) is authorized to negotiate settlements with federal agencies and Indian tribes claiming federal reserved water rights within the State of Montana. The State and most of the Tribes have entered into agreements regarding reserved water. As of June, 2013, agreements were in place with the Charles M. Russell National Wildlife Refuge, and the Upper Missouri River Breaks National Monument. The proposed agreement with the Confederated Salish and Kootenai Tribes has not been finalized. 6
7 Water Rights Reservation The compact with the Confederated Salish and Kootenai Tribes of the Flathead Reservation was approved by the RWRCC but failed to win approval of the 2013 Legislature (HB 629). A bill to extend the adjudication filing deadline (SB 265) was vetoed by Governor Bullock. DRNC s website explanation. Water rights claims are being taken by DNRC and held. What should real estate licensees disclose relative to water rights in this area? Status of Title to Indian Lands Trust lands being conveyed by Patent from Federal Government or Via deed to restricted lands. 25 U.S.C. 483 states: The Secretary of the Interior, or his duly authorized representative, is authorized in his discretion, and upon application of the Indian owners, to issue patents in fee, to remove restrictions against alienation, and to approve conveyances, with respect to lands or interests in lands held by individual Indians under the provisions of the Act of June 18, 1934 (48 Stat. 984) [25 U.S.C. 461 et seq.], or the Act of June 26, 1936 (49 Stat. 1967) [25 U.S.C. 501 et seq.]. Status of Title to Indian Lands Opinion letter coming from Federal Government What is standard for real estate licensee? Will the title company insure your transaction? One will but most will not All of them will None of them will. Don t worry Be Happy! 7
8 Short Sales Definition: A situation where the owner/borrower owes more on the loan(s) than the properties fair market value, but wishes to sell and asks the lender to discount the remaining balance of the loan. U.S. Treasury Department s Supplemental Directive 09 09: Other sources of information. Fannie Mae Short Sales content/uploads/2012/12/standard Short Sale Highlights.pdf Making Homes Affordable bringing it all together. content/uploads/2012/12/mha_webinar.pdf Fannie Mae site redone as of early June Listing a short sale Two different paths: 90+ days delinquent and has a FICO score less than 620. No documents, hardship or contribution required, in this case. OR A demonstrated hardship that can be documented and detailed in the Borrower Response Package. Fannie Mae Short Sales Check to see if the loan is covered by Fannie Mae Obtain a recommended listing price FM will obtain an appraisal in addition to BPO s No more weight given to appraisal than to BPO Real test for either is how close to the subject property are they in both distance and time Fannie Mae wants you to register your offer FM will coordinate with the servicer to expedite the review process $3,000 relocation allowance to borrower 6% commission allowed to agent Normal and customary closing costs 8
9 Fannie Mae Short Sales $6,000 available to take out second position liens Second position lienholders must agree to release borrower from further obligation on debt. FM may ask borrower to sign a note for part of the balance owed on first. How does this work in Montana? What is not acceptable: No fees to third parties to negotiate a short sale No real estate commissions or fees to homeowner No flipping time restriction on transfer No pocket listings No agreements to rent back, etc. Renters knowyouroptions.com (90 days) FANNIE Short Sales Lender will accept offer from buyer, but will only do so if owner/borrower signs a promissory note for the amount of the loan balance the lender is discounting. Example: loan balance $300,000. Offer is $250,000. Lender wants owner/borrower to sign promissory note for $50,000 payable in 5 years. You are listing agent attempting to assist your owner/borrower in completing a short sale. Should you advise them to sign the note? Deeds In Lieu Of Foreclosure Definition: owner/borrower is willing to deed property to lender in lieu of the lender completing a foreclosure. Title must be clear or other encumbrances must release. If lender took property back subject to junior encumbrances, the junior encumbrances would now be superior to lender s interest. Why would owner do this? Less publicity. Notice of foreclosure sale is not posted on property, Notice of trustee s sale is not published in the newspaper for three weeks. Some believe it is better for your credit rating???? 9
10 Seller Financing Contracts for Deed Trust Indentures (deeds of Trust) Mortgages Trust Indentures Title passes to buyer at time of closing. Buyer has given seller (or lender) a promissory note for balance of obligation. Obligation to pay is evidenced by Promissory Note Note by itself is unsecured debt Trust Indenture is security agreement tying obligation to pay note to land given as guarantee. Trust indenture is three way agreement Land is pledged to a Trustee Attorney authorized to practice law in the state of Montana Bank, Savings & Loan or other lender authorized to do business in state of Montana A title company authorized to do business in Montana. Trust Indentures Person given Trust Indenture is the GRANTOR Person or entity who is entitled to payments is the Beneficiary. What you would expect to see at closing of a trust indenture transaction: Escrow {Bank or Title Company} Trust Indenture Promissory Note Request for Reconveyance 10
11 Trust Indentures Remember can only be used on properties 40 acres or less. Foreclosure: Trustee s sale 120 day minimum time (from recording of Notice of Trustee s Sale) Borrower has the right to cure default by bringing payments current at any time prior to time of sale (must also pay late fees and costs of foreclosure to that point). If this is done, borrower is entitled to continue on with regular payments. Once sale is held, borrower has 10 days in which to vacate the property. Note this is not a time period for the borrower to redeem the property. Cash for keys frequently available to borrower Note federal law for renters 90 days. Back to Seller Financing options: Mortgages Two party agreements used to guarantee the payment of a promissory note. As with Trust Indenture, title passes from seller to buyer at time of closing. Promissory note given for remainder of obligation Person giving the mortgage is MORTGAGOR Person entitled to payment and holding mortgage is MORTGAGEE. Documents At Closing Of A Mortgage Transaction Escrow agreement Promissory note Mortgage Satisfaction of Mortgage 11
12 Mortgages Foreclosure: Requires that a lawsuit be filed in the county where the property is located asking the Court to order that the property be sold at sheriff s sale. Even if the borrower does not contest, this can take 90 days or longer to obtain a decree of foreclosure. At sheriff s sale property is sold to highest bidder. A sheriff s certificate of sale is issued to buyer. If borrower is occupying the property as his or her principal residence, they are entitled to remain on property for one year from the date of sale. No need to pay taxes Not required to pay insurance Not required to maintain property. Just pay utilities to keep the lights on and the heat going. Mortgages Foreclosure: During foreclosure proceedings, borrower does not have a right to cure by bringing payments current. Must pay off entire debt. Even if borrower is not occupying property as principal residence, they have one year in which to get the property back by paying off loan, costs of foreclosure and interest on money from date of sale. How salable is property during this one year right of redemption? Back to Seller Financing Options: Contract For Deed Title DOES NOT pass at time of closing. Contractual arrangement between seller and buyer. Seller accepts down payment and agrees that at such time as the buyer completes all payment obligation seller will convey title to property to buyer. Issues of concern to buyer: Where can I find the seller 30 years from now when I finish paying for land? What about tax liens or judgments against the seller during the term of the contract? 12
13 Contract For Deed Issues of concern for the seller: What if buyer defaults. How do I get rid of their interest? What you should expect to see at closing of a contract for deed transaction: Escrow {Bank or Title Company} Contract For Deed Warranty Deed (seller to Buyers) Realty Transfer Certificate Quit Claim Deed (buyers to Sellers) Realty Transfer Certificate Contract for Deed Defaulting a buyer under a contract for deed. Seller gives buyer a written notice of default. Typically a 30 day time to cure the defect If not done, seller takes the property back, keeps the down payment, all payments made during contract term and gets property back. Wilsall case. So what would you recommend for a seller? Detitling Mobile Homes See section MCA: For units newer than 1977 Complete MV 72 form at County Clerk and Recorder Surrender title or manufacturers statement of origin. Unit is now part of real property Can be retitled In order to permit sale and purchase of a newer unit. 13
14 Mass Listing Agreements Obligation of licensee to determine who is the owner of the property at the time the listing is taken. ARM, e. Obligation of licensees to not misrepresent the availability of property. ARM, h (i). MLS violation Internet Companies Internet companies soliciting for listing agent to assist Sellers in marketing their homes Putting properties in the MLS Who pays the commission? Coming Soon To An MLS Near You! Flyers or blasts advising other agents of a property that you expect to list in the near future. Specific address or property information that permits the recipient to identify the property is a violation of licensing law: Section (2) (a) of the Montana Code Annotated states: (2) (a) It is unlawful for a broker or salesperson to openly advertise property belonging to others, whether by means of printed material, radio, television, or display or by other means, unless the broker or salesperson has a signed listing agreement from the owner of the property. The listing agreement must be valid as of the date of advertisement. 14
15 Coming Soon To An MLS Near You! However, it is not a licensing violation to announce in general terms that you intend to have a property listed. For example: I expect to have a 3 bedroom, 2 bath, 2,400 Sq, Ft. home in in the South Hills area listed next week. What is key? Cannot identify the exact property. But are you really home free? An agent in another office calls you and says they have a buyer and the buyer wants to see the property right away. Now where are you? Pocket Listings Definition: A pocket listing is where an agent is aware that an owner would like to sell their property but is not willing to sign a listing agreement. Agent cannot put property on the MLS nor advertise ( (2) (a) MCA). Agent keeps information to themselves and if they run across a buyer will attempt to show property and or sell it. Pocket listings are not in the best interests of the consumer as the property is not getting the exposure that the owner may think it is. 15
11/5/2015. Kevin Heaney, Crowley Fleck, PLLP. Montana Land Title Association Fall Education Seminar
Montana Land Title Association 2015 Fall Education Seminar The Difference Between Mortgages and Trust Indentures in the Foreclosure Process November 5, 2015 Kevin Heaney, Crowley Fleck, PLLP Familiarize
More informationCHAPTER Council Substitute for House Bill No. 643
CHAPTER 2008-79 Council Substitute for House Bill No. 643 An act relating to foreclosure fraud; creating s. 501.1377, F.S.; providing legislative findings and intent with respect to the need to protect
More informationDEED OF TRUST PUBLIC TRUSTEE
DEED OF TRUST PUBLIC TRUSTEE THIS DEED OF TRUST is a conveyance in trust of real property to the Public Trustee of the county in Colorado in which the Property described below is located. It has been signed
More informationAN ACT RELATING TO REAL ESTATE DEEDS OF TRUST; DESIGNATING PRIORITY AND TIME PERIODS FOR REDEMPTION RIGHTS AFTER JUDICIAL
AN ACT RELATING TO REAL ESTATE DEEDS OF TRUST; DESIGNATING PRIORITY AND TIME PERIODS FOR REDEMPTION RIGHTS AFTER JUDICIAL FORECLOSURE; AMENDING THE DEED OF TRUST ACT; DECLARING AN EMERGENCY. BE IT ENACTED
More informationMAINE FORECLOSURE LAW * June 19, Presented by: Stephanie A. Williams, Esq.
MAINE FORECLOSURE LAW * June 19, 2010 Presented by: Stephanie A. Williams, Esq. PERKINS THOMPSON One Canal Plaza, PO Box 426 Portland, ME 04112-0426 207-774-2635 swilliams@perkinsthompson.com Two types
More informationTHE TOWN OF VAIL EMPLOYEE HOUSING GUIDELINES
THE TOWN OF VAIL EMPLOYEE HOUSING GUIDELINES 10-19-99 10/19/99 Page 1 of 11 I. PURPOSE The purpose of the (Guidelines) is to set forth the occupancy requirements, re-sale procedures, and resale price limitations
More informationBNT Escrow Services, LLC
BNT Escrow Services, LLC American Land Title Association ALTA Commitment Form Adopted 6-17-06 CHICAGO TITLE INSURANCE COMPANY 800-943-1196 SCHEDULE A Prepared By: BNT Escrow Services, LLC Loan No.: Title
More informationCOUNTY LAND REUTILIZATION CORPORATION. Summary of Ohio Statutory Foreclosure Proceedings
Form XI-4 COUNTY LAND REUTILIZATION CORPORATION Summary of Ohio Statutory Foreclosure Proceedings TABLE OF CONTENTS 323.25 FORECLOSURE Commencing a 323.25 Co. Treasurer Foreclosure Action Right of Redemption
More informationAssembly Bill No. 140 Committee on Commerce and Labor
Assembly Bill No. 140 Committee on Commerce and Labor CHAPTER... AN ACT relating to real property; revising provisions relating to a notice of sale of real property under execution; establishing the crime
More informationH 7816 S T A T E O F R H O D E I S L A N D
LC001 01 -- H 1 S T A T E O F R H O D E I S L A N D IN GENERAL ASSEMBLY JANUARY SESSION, A.D. 01 A N A C T RELATING TO TAXATION -- TAX SALES Introduced By: Representative Robert E. Craven Date Introduced:
More informationH 7816 AS AMENDED S T A T E O F R H O D E I S L A N D
======== LC001 ======== 01 -- H 1 AS AMENDED S T A T E O F R H O D E I S L A N D IN GENERAL ASSEMBLY JANUARY SESSION, A.D. 01 A N A C T RELATING TO TAXATION -- TAX SALES Introduced By: Representative Robert
More informationSenate Bill 838 Sponsored by COMMITTEE ON BUSINESS AND TRANSPORTATION
79th OREGON LEGISLATIVE ASSEMBLY--2017 Regular Session Enrolled Senate Bill 838 Sponsored by COMMITTEE ON BUSINESS AND TRANSPORTATION CHAPTER... AN ACT Relating to timeshares; creating new provisions;
More informationBAY COUNTY LIBRARY SYSTEM DISPOSITION OF LIBRARY OWNED REAL PROPERTY POLICY
BAY COUNTY LIBRARY SYSTEM DISPOSITION OF LIBRARY OWNED REAL PROPERTY POLICY Purpose & Responsibility 1. Purpose: To provide for the lawful, orderly and equitable sale or other disposition of Library owned
More informationSTANDARD MASTER ADDENDUM
Page 1 of 8 STANDARD MASTER ADDENDUM This Standard Master Addendum (hereinafter the SMA ) is entered into by the and (together referred to hereinafter as the Parties ) in conjunction with the Purchase
More informationHow to Sell Your Home in a Short Sale
How to Sell Your Home in a Short Sale A viable solution for property with no equity Warrior Brown Realty Real Estate Professionals setting the standards for excellence Tangie Warrior Brown, Realtor Direct:
More informationTITLE 27 LEASEHOLD MORTGAGE OF TRIBAL TRUST LAND TABLE OF CONTENTS. CHAPTER General Purpose Statement Purpose 1
TITLE 27 LEASEHOLD MORTGAGE OF TRIBAL TRUST LAND TABLE OF CONTENTS CHAPTER 27.01 General Purpose Statement 27.0101 Purpose 1 CHAPTER 27.02 Definitions 27.0201 Definitions 1 CHAPTER 27.03 Priority 27.0301
More information1 SB By Senators Hightower, Glover and Albritton. 4 RFD: County and Municipal Government. 5 First Read: 12-MAR-15.
1 SB220 2 168824-6 3 By Senators Hightower, Glover and Albritton 4 RFD: County and Municipal Government 5 First Read: 12-MAR-15 Page 0 1 SB220 2 3 4 ENROLLED, An Act, 5 To allow a county, municipality,
More informationEXCLUSIVE RIGHT TO SELL RESIDENTIAL BROKERAGE AGREEMENT
DATE: EXCLUSIVE RIGHT TO SELL RESIDENTIAL BROKERAGE AGREEMENT 1. SELLER(S) (List all): Mailing Address: Office Telephones: Office/Home Fax: Home Telephones: Cell Phones: / Email Addresses: / 2. BROKER:
More informationGENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2009
S GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 00 SENATE BILL 0 Judiciary I Committee Substitute Adopted //0 Third Edition Engrossed //0 PROPOSED HOUSE COMMITTEE SUBSTITUTE S0-CSST- [v.] //00 :: PM D Short
More informationUNIT 5: JOHN MATHIS CONTRACTS
TEXAS INTERACTIVE STUDY GROUP 1 UNIT 5: JOHN MATHIS CONTRACTS Study Group Information 2 Information regarding the Study Group may be found at: www.kapre.com/txisg At this location you will find: Calendar
More informationSec DEFINITIONS. In this chapter:
Foreclosure in Texas Texas is a non-judicial foreclosure state. A foreclosure proceeding in Texas is like a Motion for Summary Judgement. And as Sergeant Major Basil Plumley stated: Gentlemen, prepare
More informationPolicy Amount. Proposed Insured: Purchaser with contractual rights under a purchase agreement with the vested owner identified at Item 4 below
FIDELITY NATIONAL TITLE INSURANCE COMPANY 800-943-1196 SCHEDULE A Prepared By: Boston National Title Agency, LLC 129 West Trade St, 9th Floor Charlotte NC 28202 Loan No.: Title No.: 1. Effective date:
More informationFHA Preforeclosure Sale Addendum
Loan Number: Mortgagee/Lender/Servicer: Address of Property: Date of Purchase Contract: / / Seller Printed Name Buyer Printed Name Seller Printed Name Buyer Printed Name Seller s Agent/Listing Agent Buyer
More informationGlossary of Title Insurance Terms
Glossary of Title Insurance Terms abstract of title The condensed history of the title to a particular parcel of real estate, consisting of a summary of the original grant and all subsequent conveyances
More informationCWCOT. REO ID: Property Address: Listing Agent: Brokerage Company: Buyer s Vesting: Buyer Contact: Buyer s Broker/Agent: National Title Vendor:
CWCOT REO ID: Property Address: Listing Agent: Brokerage Company: Bid Amount: Buyer s Premium: Total EMD: TOTAL Purchase Price: Buyer s Vesting: Buyer Contact: Buyer s Broker/Agent: National Title Vendor:
More informationAffidavit Rerecorded Lost Assignment Affidavit Agreement A document in which two or more parties All Persons Signing All Persons Signing None None
Prince William County Land Records Indexing Guidelines by Document Type INSTRUMENT TYPES DESCRIPTION GRANTOR (F2) GRANTEE (F3) CONSID- ORIGINAL ERATION BOOK & PAGE OR INSTRUMENT # (15 DIGIT) Affidavit
More informationFORECLOSURE SALES. Eagle County Public Trustee Karen Sheaffer
FORECLOSURE SALES Eagle County Public Trustee Karen Sheaffer Created in 1894 by Colorado State Legislature Provides Checks and balances between Borrowers and Lenders Office acts as a neutral 3 rd party
More informationGENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2015 HOUSE BILL 174 RATIFIED BILL
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2015 HOUSE BILL 174 RATIFIED BILL AN ACT TO AMEND AND ENHANCE CERTAIN NOTICE REQUIREMENTS AND PROTECTIONS FOR TENANTS OF REAL PROPERTIES IN FORECLOSURE AND TO
More informationProfessional Short Sale Negotiators Short Sale Option Agent Listing Packet
Presents Short Sale Option www.lotusrealtygroup.com Agent Listing Packet 400 S Sierra Ave. Suite 102, Solana Beach, CA 92075 SUPPLEMENTAL COMMISSION AGREEMENT WITH LISTING BROKER/AGENT ( Listing Broker/Agent
More informationOFFICE OF THE PUBLIC TRUSTEE
OFFICE OF THE PUBLIC TRUSTEE Presented to the Colorado County Public Trustees October, 13 2011 By Patricia Bartlett, Logan County Public Trustee Carol Snyder, Adams County Public Trustee 315 Main Street,
More informationEXCLUSIVE RIGHT TO SELL UNIMPROVED LAND BROKERAGE AGREEMENT
DATE: _ EXCLUSIVE RIGHT TO SELL UNIMPROVED LAND BROKERAGE AGREEMENT 1. SELLER(S) (List all):_ Mailing Address :_ Office Telephones: Office/Home Fax:_ Home Telephones: Cell Phones: _/ Email Addresses: /
More informationPolicy Amount. Proposed Insured: Purchaser with contractual rights under a purchase agreement with the vested owner identified at Item 4 below
FIDELITY NATIONAL TITLE INSURANCE COMPANY 800-943-1196 SCHEDULE A Prepared By: BNT of Alabama, LLC Loan No.: Title No.: 1. Effective date: 19th day of January, 2018 Issue Date: 01/25/2018 This Title Insurance
More informationSELF-CANCELING INSTALLMENT SALES AGREEMENT
SELF-CANCELING INSTALLMENT SALES AGREEMENT THIS SELF-CANCELING INSTALLMENT SALES AGREEMENT (the Agreement ) is made this day of, 1999, between [CLIENT], residing at [CLIENT ADDRESS] (the Buyer ) and [SELLER]
More informationNORTH CAROLINA POWER OF SALE FORECLOSURE ABSTRACT - LONG FORM
NORTH CAROLINA POWER OF SALE FORECLOSURE ABSTRACT - LONG FORM Special Proceeding No. SP County, North Carolina Deed of Trust Foreclosed (DTF): Book Page Abstracted by on, 20 OWNER/PROPERTY/INTEREST FROM
More informationlocated in the 14. City/Township of CLEARWATER, County of WRIGHT, 15. State of Minnesota, PID # (s) 16.
2. BUYER (S): 3. 4. Buyer's earnest money in the amount of COMMERCIAL PURCHASE AGREEMENT This form approved by the Minnesota Association of REALTORS and the Minnesota Commercial Association of REALTORS,
More informationCalifornia Real Estate License Exam Prep: Unlocking the DRE Salesperson and Broker Exam 4th Edition
California Real Estate License Exam Prep: Unlocking the DRE Salesperson and Broker Exam 4th Edition ANSWER SHEET INSTRUCTIONS: The exam consists of multiple choice questions. Multiple choice questions
More informationBUY-SELL AGREEMENT (Land)
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 BUY-SELL AGREEMENT (Land) This Agreement stipulates
More informationTransfers and Conveyances of Water Rights: Evaluation, Due Diligence, and Forms of Conveyances
Transfers and Conveyances of Water Rights: Evaluation, Due Diligence, and Forms of Conveyances Publication 12/18/2002 12:00:00 AM 1. INTRODUCTION Chris Thorne Partner 303.295.8488 Denver cthorne@hollandhart.com
More informationMSPA ( , MCA) (1)(A), MCA A
Chapter 16.75 Division of Land Exempt From Subdivision Review Sections: 16.75.10 General Criteria to Determine Whether a Proposal is an Attempt to Evade the MSPA 16.75.20 Divisions of Land Entirely Exempt
More informationLOUISIANA HOUSING CORPORATION QUALIFIED CONTRACT PROCESSING GUIDELINES
LOUISIANA HOUSING CORPORATION QUALIFIED CONTRACT PROCESSING GUIDELINES The Louisiana Housing Corporation (the LHC ) is successor in interest to the Louisiana Housing Finance Agency (the LHFA ) and is now
More informationInsuring after Judicial and Non-Judicial Foreclosures
Insuring after Judicial and Non-Judicial Foreclosures Montana Land Title Association Spring Education Seminar May 2014 David E. Lawson, Underwriter Fidelity National Title Group NOTE: deed of trust (DOT)
More informationPolicy Amount. Proposed Insured: Purchaser with contractual rights under a purchase agreement with the vested owner identified at Item 4 below $0.
FIDELITY NATIONAL TITLE INSURANCE COMPANY 800-943-1196 SCHEDULE A Prepared By: Boston National Title Agency, LLC 129 West Trade St, 9th Floor Charlotte NC 28202 1. Effective date: 26th day of March, 2018
More informationCITY OF TORRINGTON TAX COLLECTOR TAX DEED SALE Saturday, June 23, Bidder Information Package and Rules of Sale
CITY OF TORRINGTON TAX COLLECTOR TAX DEED SALE Saturday, June 23, 2018 Bidder Information Package and Rules of Sale SALE LOCATION: Torrington City Hall 140 Main St, 2nd Floor Auditorium Torrington, Connecticut
More informationNORTH CAROLINA DEED OF TRUST NORTH CAROLINA HOUSING FINANCE AGENCY $15,000 DPA Program Only
NORTH CAROLINA DEED OF TRUST NORTH CAROLINA HOUSING FINANCE AGENCY $15,000 DPA Program Only After recording, return the executed document back to the Originating Lender (not NCHFA) within 24 hours of closing.
More informationBoston National Title Agency, LLC. 129 West Trade St, 9th Floor. Charlotte NC 28202
Boston National Title Agency, LLC 129 West Trade St, 9th Floor Charlotte NC 28202 American Land Title Association ALTA Commitment Form Adopted 6-17-06 CHICAGO TITLE INSURANCE COMPANY 800-943-1196 SCHEDULE
More informationCITE THIS READING MATERIAL AS:
CITE THIS READING MATERIAL AS: Realty Publications, Inc. Real Estate Finance Eighth Edition Table of Contents i Table of Forms...v Glossary...601 Quizzes...619 Table of Contents Chapter 1 Chapter 2 Wellenkamp
More informationKeenan Auction Company
Keenan Auction Company PROPERTY INFORMATION PACKAGE Our 6,424 th Auction Real Estate Foreclosure Auction 13-237 Raised Ranch Style Home 21 Wardwell Rd., Orland, Maine Tuesday, August 27, 2013 at 3:30PM
More informationSYLLABUS. Law REAL ESTATE TRANSACTIONS AND LITIGATION. II. REAL ESTATE BROKERS AND SALES AGENTS (August 27; September 3)
SYLLABUS Law 257 - REAL ESTATE TRANSACTIONS AND LITIGATION I. COURSE OVERVIEW/INTRODUCTION (August 27) II. REAL ESTATE BROKERS AND SALES AGENTS (August 27; September 3) A. INTRODUCTION B. SOURCES OF RELEVANT
More informationTHE TOWN OF VAIL EMPLOYEE HOUSING GUIDELINES. July 4, 2018
THE TOWN OF VAIL EMPLOYEE HOUSING GUIDELINES I. PURPOSE July 4, 2018 The purpose of the Employee Housing Guidelines (Guidelines) is to set forth the occupancy requirements, resale procedures, and maximum
More informationGeorgia 2015 Legislation as of May 25, 2015
Georgia 2015 Legislation as of May 25, 2015 The 2015-2016 Georgia General Assembly reconvened January 12, 2015 and adjourned April 2, 2015. Below is an end of session update on real estate related bills
More informationCarolina supreme court temporarily bars foreclosures/
MISSOURI FORECLOSURE UPDATE MAY, 2009 INTRODUCTION: Allison Tanner presented a CLE Presentation on Missouri Foreclosures (Missouri Non-Judicial Foreclosures, a Step-by-Step Guide with Forms and Checklists)
More informationPolicy Amount. Proposed Insured: Purchaser with contractual rights under a purchase agreement with the vested owner identified at Item 4 below
FIDELITY NATIONAL TITLE INSURANCE COMPANY 800-943-1196 SCHEDULE A Prepared By: BNT of Alabama, LLC Loan No.: 1. Effective date: 23rd day of February, 2018 Issue Date: 03/07/2018 This Title Insurance Commitment
More informationMarch 20, TO: All MAAO Members FROM: MAAO President Stephen C. Behrenbrinker, CAE, RE: MAAO-DOR Foreclosure Advisory Document
March 20, 2008 TO: All MAAO Members FROM: MAAO President Stephen C. Behrenbrinker, CAE, RE: MAAO-DOR Foreclosure Advisory Document Greetings! On behalf of the Minnesota Association of Assessing Officers
More informationCOURSE OUTLINE SUPERVISION BROKERS, BRANCH OFFICE MANAGERS, TEAM LEADERS. I. Supervision Duties of Brokers, Managers and Team Leaders
COURSE OUTLINE SUPERVISION BROKERS, BRANCH OFFICE MANAGERS, TEAM LEADERS I. Supervision Duties of Brokers, Managers and Team Leaders A. Requirements of Maryland Real Estate Brokers Act (c) (1) A real estate
More informationDelinquent Tax Certificate Sale
Delinquent Tax Certificate Sale Dear Potential Delinquent Tax Certificate Sale Participant: THANK YOU for your interest in the Delinquent Tax Certificate Sale. This summary is provided for your convenience
More informationPolicy. Proposed Insured: Purchaser with contractual rights under a purchase agreement with the vested owner identified at Item 4 below
FIDELITY NATIONAL TITLE INSURANCE COMPANY 800-943-1196 SCHEDULE A Prepared By: Boston National Title Agency, LLC 129 West Trade St, 9th Floor Charlotte NC 28202 1. Effective date: 28th day of December,
More informationIMMEDIATELY FOLLOWING CLOSING: Forward a copy of the HUD-I Settlement Statement and Net Proceeds Check by fax to my attention at
After closing, please send via FedEx a copy of the HUD-I Settlement Statement, Net Proceeds Check, Original Promissory Note (if required), Assignment of Escrow Disclosure Statement, and the release of
More information.:Foreclosure Timeline:.
.::. The following is a timeline for a typical judicial foreclosure by sale case in Vermont. With few exceptions, most foreclosures in Vermont follow the judicial foreclosure by sale procedure. The exceptions
More informationShort Sales, Foreclosures, REOs and Auctions: Tools for Success in Today s Market
Short Sales, Foreclosures, REOs and Auctions: Tools for Success in Today s Market Short Sales The Whole Story! Identifying the Short Sale Property 1 2 gather information and analyze a property and its
More informationWHEREAS, the present mortgage foreclosure crisis has serious negative implications for all
AN ORDINANCE AMENDING CHAPTER 48 OF THE CITY OF MEMPHIS, CODE OF ORDINANCES, BY ADDING SECTIONS 48-24 THRU 48-27 TO INCLUDE PROPERTY REGISTRATION REQUIREMENTS THAT WILL REQUIRE REGISTRATION BY A MORTGAGEE
More informationClient Alert. A Pennsylvania Commercial Lender s Guide to Collecting Debts in New Jersey
Client Alert A Pennsylvania Commercial Lender s Guide to Collecting Debts in New Jersey Pennsylvania commercial lenders may be surprised when collecting debts in New Jersey. This alert outlines some material
More informationCass County Delinquent Tax Certificate Sale
Cass County Delinquent Tax Certificate Sale Dear Potential Delinquent Tax Certificate Sale Participant: THANK YOU for your interest in the 2018 Delinquent Tax Certificate Sale. This summary is provided
More informationBoston National Title Agency, LLC. 129 West Trade St, 9th Floor. Charlotte NC 28202
Boston National Title Agency, LLC 129 West Trade St, 9th Floor Charlotte NC 28202 American Land Title Association ALTA Commitment Form Adopted 6-17-06 CHICAGO TITLE INSURANCE COMPANY 800-943-1196 SCHEDULE
More informationPVD Foreclosure Related Sales Guidelines
Introduction PVD Foreclosure Related Sales Guidelines The purpose of this paper is to provide guidance to county appraisers in dealing with the high volume of foreclosure related sales, also known as REO
More information11/8/ Fall Education Seminar November 3 4 Billings Montana. Kim Overcast DNRC Water Resources Division
2016 Fall Education Seminar November 3 4 Billings Montana Kim Overcast DNRC Water Resources Division http://dnrc.mt.gov/divisions/water Montana Water Law All water belongs to State of Montana. A legal
More informationDEED OF TRUST (For use in the State of Washington only)
When recorded return to: DEED OF TRUST (For use in the State of Washington only) THIS DEED OF TRUST, made this day of between as GRANTOR(S),, and as TRUSTEE, and as BENEFICIARY, WITNESSETH: Grantor(s)
More informationADMINISTRATOR: A person appointed by a probate court to settle the affairs of a deceased person who had no will. See "personal representative".
COMMON TERMS ACCESS: The right to enter and leave a tract of land to or from a public right of way, often necessitating the right to cross lands privately owned by others. ACKNOWLEDGMENT: The act by which
More informationQuiz When a person receives property from another, the recipient is called the: A) grantor. B) mortgagor. C) grantee. D) decedent.
Quiz 6 A) evidentiary notice. B) clear notice. C) constructive notice. D) actual notice. A) seller. B) lender. C) purchaser. D) adjoining landowners. 3. In a general warranty deed, the grantor warrants
More informationLIST OF CHAPTERS VOLUME 1 VOLUME 2 BROKER LISTING DOCUMENTS CONTRACTS TO BUY AND SELL CONTRACTS FOR I.R.C EXCHANGES
LIST OF CHAPTERS VOLUME 1 Chapter 1 Chapter 2 Chapter 3 Chapter 4 BROKER LISTING DOCUMENTS CONTRACTS TO BUY AND SELL CONTRACTS FOR I.R.C. 1031 EXCHANGES DEEDS VOLUME 2 Chapter 5 Chapter 6 Chapter 7 Chapter
More informationLOUISIANA REAL RULES AND REGULATIONS (As amended through June 2017)
LOUISIANA REAL RULES AND REGULATIONS (As amended through June 2017) The Louisiana Real Estate Commission has adopted the following Rules and Regulations pursuant to the authority granted in the Louisiana
More informationMultifamily Housing Preservation and Receivership Act
Multifamily Housing Preservation and Receivership Act OVERVIEW OF THE MULTIFAMILY HOUSING PRESERVATION AND RECEIVERSHIP ACT, P.L.2003, C.295 The following is an overview of the principal provisions of
More information1 of 6. May 28, Re: Mortgage Loan #: Property Address:
May 28, 2014 Re: Mortgage Loan #: Property Address: Dear Flagstar Customer(s): Flagstar Bank reviewed the pending sales contract on the above mortgage loan in accordance with the terms of the Pre-Foreclosure
More informationReal Estate Principles
Real Estate Principles Chapter 1: An Introduction to Real Estate The Real Estate Industry Real Estate Transactions Real Estate Brokerage Real Estate as a Career Real Estate and the Law Chapter 2: The Nature
More informationWATER DUE DILIGENCE:
WATER DUE DILIGENCE: What real estate attorneys should understand about water rights due diligence when their clients are purchasing property with water rights I. A brief history of salient Colorado water
More informationSearch Result for BALTIMORE COUNTY View Map View GroundRent Redemption View GroundRent Registration. Location & Structure Information
Real Property Data Search Search Result for BALTIMORE COUNTY View Map View GroundRent Redemption View GroundRent Registration Tax Exempt: Exempt Class: Special Tax Recapture: AGRICULTURAL TRANSFER TAX
More informationRead and Examined by Proofreaders: Proofreader. Sealed with the Great Seal and presented to the Governor, for his approval this day of at o'clock, M.
N1 UNOFFICIAL COPY OF SENATE BILL 761 EMERGENCY BILL (5lr1509) ENROLLED BILL -- Judicial Proceedings/Environmental Matters and Economic Matters -- Introduced by Senator Frosh Read and Examined by Proofreaders:
More informationNotice to Junior Lienholders
Missouri Power of Sale Process RSMo. 443.310: trustee must provide notice of sale at least 20 days prior to sale (unless mortgage requires longer period) RSMo. 443.325: personal notice must be given to:
More informationReal estate sales validation questionnaires; required to accompany transfers of title; retention time; use of information.
79-1437c. Real estate sales validation questionnaires; required to accompany transfers of title; retention time; use of information. No deed or instrument providing for the transfer of title to real estate
More informationGeorgia Real Estate Practices. Attorney Involvement
Georgia Real Estate Practices Attorney Involvement Please describe any requirements under applicable state law for attorney, abstractor or other special professional involvement, for example, in the search,
More informationKANSAS LLC OPERATING AGREEMENT
LIMITED LIABILITY COMPANY OPERATING AGREEMENT (COMPANY NAME), LLC A Member-Managed Limited Liability Company KANSAS LLC OPERATING AGREEMENT THIS OPERATING AGREEMENT is made and entered into effective (Month
More informationGENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2013 SESSION LAW HOUSE BILL 331
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2013 SESSION LAW 2013-202 HOUSE BILL 331 AN ACT TO STABILIZE TITLES AND TO PROVIDE A UNIFORM PROCEDURE TO ENFORCE CLAIMS OF LIEN SECURING SUMS DUE CONDOMINIUM
More informationChapter 13 Bankruptcy. Next Assignments. In re Edry
Next Assignments Pages 700 743 (Distribution of Proceeds; Lien Revival; Statutory Redemption; Deficiency Judgments) Pages 574 585 (Merger; Deeds in Lieu of Foreclosure; Short Sales ) Chapter 13 Bankruptcy
More informationOwners Full Name(s): (hereinafter, Sellers )"
LIMITED REPRESENTATION AGREEMENT 1 of 10 Date: Owners Full Name(s): (hereinafter, Sellers ) This Listing Agreement is by and between Sellers and Home Max, LLC., doing business as Home Max Realty, MLS Direct,
More informationFrequently Asked Questions about Public Internet Auction of Tax-Defaulted Land
Frequently Asked Questions about Public Internet Auction of Tax-Defaulted Land PROPERTY IS SOLD AS IS INSPECT THOROUGHLY BEFORE YOU BUY! 1. Why does the County sell tax-defaulted property? The primary
More informationChicago Title Insurance Company
Chicago Title Insurance Company COMMITMENT FOR TITLE INSURANCE Issued by Chicago Title Insurance Company Chicago Title Insurance Company, a Nebraska Corporation ('Company'), for a valuable consideration,
More informationRULES AND REGULATIONS FOR LICENSE BROKERS
City of Chicago Department of Consumer Services Public Vehicle Operations Division RULES AND REGULATIONS FOR LICENSE BROKERS effective 1 May 2001 City of Chicago Richard M. Daley Mayor Norma I. Reyes Commissioner
More informationEXAM REVIEW COURSE MANUAL
EXAM REVIEW COURSE MANUAL I. LEGAL ASPECTS A. PROPERTY 1. Real Property 2. Fixtures 3. Run with the Land 4. Personal Property B. ESTATES 1. Freehold a. Fee Simple Estates (Fee Estate) b. Fee Simple Defeasible
More informationIC Chapter 1.7. Abandoned Manufactured Homes in Mobile Home Communities
IC 9-22-1.7 Chapter 1.7. Abandoned Manufactured Homes in Mobile Home Communities IC 9-22-1.7-1 Applicability Sec. 1. This chapter applies to a manufactured home that is located in a mobile home community
More informationCHAPTER 16 - TRUST DEEDS AND LIENS
An * in the left margin indicates a change in the statute, rule or text since the last publication of the manual. CHAPTER 16 - TRUST DEEDS AND LIENS Trust Deeds and Mortgages Introduction and Background
More informationTRUSTEE S MEMORANDUM OF FORECLOSURE SALE OF REAL PROPERTY OF
TRUSTEE S MEMORANDUM OF FORECLOSURE SALE OF REAL PROPERTY OF In consideration of the premises and other good and valuable consideration, the adequacy and receipt of which are acknowledged, the undersigned
More informationReferred to Committee on Taxation. SUMMARY Revises provisions governing the collection of delinquent property taxes. (BDR )
ASSEMBLY BILL NO. COMMITTEE ON TAXATION (ON BEHALF OF CLARK COUNTY) PREFILED NOVEMBER 0, 0 Referred to Committee on Taxation A.B. SUMMARY Revises provisions governing the collection of delinquent property
More informationDodd-Frank Wall Street Reform and Consumer Protection Act
Dodd-Frank Wall Street Reform and Consumer Protection Act September 2010 Patricia Antonelli, Esq. Kathryn D. Ryan Mark S. Adelman Dodd-Frank Wall Street Reform and Consumer Protection Act Makes Changes
More informationFreddie Mac Condominium Unit Mortgages
For all mortgages secured by a Condominium Unit in a Condominium Project, the Seller must perform an underwriting review of the Condominium Project to ensure the mortgage and the project meet the requirements
More informationCHAPTER APPRAISAL MANAGEMENT COMPANIES
CHAPTER 43-23.5 APPRAISAL MANAGEMENT COMPANIES 43-23.5-01. Definitions. As used in this chapter, unless the context otherwise requires: 1. "Appraisal firm" means any person or entity that exclusively employs
More informationORDINANCE #05/05 PROCEDURES GOVERNING LEASEHOLD MORTGAGES MADE TO SECURE LOANS UNDER THE FOND DU LAC SECTION 184 LOAN PROGRAM
ORDINANCE #05/05 FOND DU LAC BAND OF LAKE SUPERIOR CHIPPEWA PROCEDURES GOVERNING LEASEHOLD MORTGAGES MADE TO SECURE LOANS UNDER THE FOND DU LAC SECTION 184 LOAN PROGRAM Adopted by Resolution #2110/05 of
More informationBoston National Title Agency, LLC. 129 West Trade St, 9th Floor. Charlotte NC 28202
Boston National Title Agency, LLC 129 West Trade St, 9th Floor Charlotte NC 28202 American Land Title Association ALTA Commitment Form Adopted 6-17-06 FIDELITY NATIONAL TITLE INSURANCE COMPANY 800-943-1196
More informationLesson 5: Encumbrances. Encumbrances. Real Estate Principles of Georgia. Encumbrances. Financial vs. Non-financial
Real Estate Principles of Georgia Lesson 5: Encumbrances 1 of 64 105 Encumbrances Encumbrance: A nonpossessory interest in real property held by someone other than the owner. Does not give ownership or
More informationEducational Version. Broker (Firm) Mailing Address: City, State, and Zip Code:
EXCLUSIVE RIGHT TO SELL UNIMPROVED LAND LISTING AGREEMENT This Exclusive Right to Sell Unimproved Land Listing Agreement ( Agreement ) is made on (Date) by and between ( Seller ) and (Insert Firm Name)
More informationCOMBINED NOTICE OF SHERIFF S SALE OF REAL PROPERTY AND RIGHT TO CURE AND REDEEM #
DISTRICT COURT, LARIMER COUNTY, STATE OF COLORADO Civil Action No. 2016CV30355 COMBINED NOTICE OF SHERIFF S SALE OF REAL PROPERTY AND RIGHT TO CURE AND REDEEM #17002763 TEHILLAH, LLC, a Colorado limited
More informationCommitment for Title Insurance
Commitment for Title Insurance Schedule A Issued by Fidelity National Title Insurance Company Fidelity National Title Insurance Company 310 First Street, Suite 1210 Roanoke, VA 24011 Phone: 540-982-2121
More information