| Agency Relationship in a Real Estate Transaction |
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| Whether buying or selling real estate, chances are good that a real estate agent will be involved in the transaction. In most states, a real estate agent represents only the seller or the buyer. Rarely do states allow one agent to represent both parties. The purpose of single representation is to avoid a potential for a conflict of interest and to ensure that the interests of each party are being fully represented.More... |
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| Interstate Land Sales Full Disclosure Act |
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| In 1968, Congress enacted the Interstate Land Sales Full Disclosure Act, 15 U.S.C.S. § 1701 (1998). In enacting the law, it was Congress' purpose to eliminate fraud in interstate sales of land. Briefly stated, the law requires certain disclosures in connection with the sale of vacant land. Despite numerous challenges since its enactment, the Interstate Land Sales Full Disclosure Act has passed constitutional muster.
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| The Residential Real Estate Mortgage |
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| Most purchases of residential property are financed through mortgages. A mortgage is a financial transaction by which a purchaser borrows money from a lender that is payable over time.More... |
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| Real Estate Owners' Rights |
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| An owner of real estate has the right to use the realty for any purpose and in any way that does not conflict with local statutes, ordinances, and zoning laws and any restrictive covenants. As long as the owner complies with those restrictions, the owner has the right to sell the property, to give it away by gift or by will, to exchange it, and to exclude others.More... |
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| Gifts |
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| A gift is a transfer of property without any money changing hands. The person who makes the gift is called the donor. The recipient is called the donee. The requirements of a valid gift are that the donor voluntarily intends to give property, which is delivered to and accepted by the donee.
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