| Percolation Tests |
| A percolation test, or "perc test," is performed on undeveloped land in order to determine whether the land is absorbent enough to support the installation of a septic system. Typically, the test is performed by a hydraulic engineer.More... |
| Life Estates |
| Generally, when a grantor transfers land to a grantee, the grantee receives the entire right and title to the property, without limitations. Sometimes, however, the grantor chooses to limit the grantee's right to the use and enjoyment of the land by creating a life estate. A life estate is an estate in land that ends when a named person dies. It is used primarily for estate planning as a device to allow successive ownership of the land. More... |
| Home Inspection |
| Often when a home buyer enters into an agreement of sale for the purchase of a home, the agreement contains a provision which entitles to home buyer to a home inspection. The home buyer's right to a home inspection is determined by the terms of the parties' agreement of sale.More... |
| The Residential Lead-Based Paint Hazard Reduction Act |
| The Residential Lead-Based Paint Hazard Reduction Act is the federal law that addresses the health problems that have been associated with the use of lead-based paint in apartments and rental units. The Act and its enforcement regulations apply to rental properties that were built before 1978.More... |
| Title Insurance |
| By the terms of a real estate contract, a seller agrees to convey clear title to a buyer. As a condition of being approved for a mortgage to buy the property, the buyer's lender usually requires the buyer to purchase a lender's insurance policy, which is paid for when the real estate transaction closes. Every closing is conditioned on proof of the seller's ability to convey clear title, the release of prior encumbrances, and the ability of the buyer's lender to have a superior interest in the property to be conveyed.More... |
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