Tag: security-interest
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Paying Off Your Mortgage: What You Need to Know
– When a borrower pays off a mortgage or deed of trust, the lender must record a notice that it no longer holds a security interest in the property. – The laws governing these notifications vary from state to state and must be consulted individually for details. – The notice must be in written form…
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Florida Law Limits Foreign Citizens from Buying Property
– Florida Senate Bill 264 would limit select persons from foreign countries of concern, including China, Russia, Iran, North Korea, Cuba, Syria, and Venezuela, from owning or acquiring additional real property in Florida. – The law includes exceptions for indirect interests, security interests, and grandfathered properties acquired before July 1, 2023. – Violations of the…
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FAQ – Law Firm Q&A
– Title insurance is a policy that protects against loss if the condition of title to land is other than as insured. – Title insurance is necessary when buying property to ensure that you can enjoy the benefits of ownership without any unexpected debts or obligations. – If there is a problem with your title,…
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Florida Law Restricts Foreign Investments in Real Estate
1. Florida has passed a new law, SB 264, called Interests of Foreign Countries, which limits and regulates the sale, purchase, and ownership of certain properties in Florida by Foreign Principals from specific countries of concern. 2. Foreign Principals include government and party officials from certain countries, companies formed in those countries, and individuals not…