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What is a promissory note in conjunction to real estate? A promissory note is the promise to repay the amount that is borrowed in order to purchase the real property, or if you’re taking a loan out against the real property. So, you have the note, which says you promised to repay the loan and sets forth the terms, the interest rate of the loan. The note is then secured by a mortgage, which puts a lien against the real estate. Now, this the mortgage doesn’t say that you owe me any money. The note says that what the mortgage does is gives the lender at lien against the property. So, if you don’t make the payments on the promissory note, they can enforce or foreclose on the mortgage and have your property sold at foreclosure sale. If  you do not pay the amount owed to them on the promissory note, if you have any questions, give me a call at (727) 847-2288.

Video Summary

How do you remove an ex spouse from a deed? The question really should be rephrased as “how do you remove the interest of an ex spouse from the title to the property” and that the deed indicates how the property is titled. The way to do that is to have the ex spouse sign a deed, conveying their interests. If the court, if the judgment of disillusion of marriage is handled by a lawyer, the lawyer and the property settlement agreement is provides that the spouse is to convey their interests. The lawyer can insert into the final judgment rewording that the judgment shall serve as a conveyance of the ex spouse’s interest in the property and serve as a conveyance to the other spouse. If you have a situation where you did not have a lawyer and that language does not appear in the final judgment, and you have a property settlement agreement, which the court adopts, and that’s where one spouse has agreed to transfer the, their interest in the property to the other, the court usually reserved jurisdiction over the parties and their real estate to comply with the provisions of the property settlement and the final judgment.
And that instance, you can file a motion to and force the provisions of the final judgment that has incorporated the property settlement agreement. So if you have any questions about getting a deed from ex spouse, will give me a call at (727) 847-2288.

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What is a prescriptive easement? A prescriptive easement arises when someone uses someone else’s property to travel across it to get to their property or to access something at another location. And they do this for a period of years, and I believe it’s seven, but I would have to double check that, but it has to be for an extended period of time and they keep going over the same trail or pathway. For this roadway or dirt road, for the prescribed period of time. And it has to be without the owner’s permission. And then after the required period of time, then the person can then file an action to have a prescriptive easement, which is to them so that they have a right to continue to use this easement as long as they want to. And the owner of the property has to allow them to continue to use their prescriptive easement. It’s very rarely do you see an action for prescriptive easement, but, and they’re difficult to prove but, that’s their criteria. And I’m not sure about the time period that the, prescriptive easement has to be used at virtually before you’re entitled to the habit judicially determined to be a prescriptive easement. If you have any questions about prescriptive easements, give me a call at (727) 847-2288.

What is a Secured Transaction?

Video Summary

What is a secure transaction? A secured transaction is one where you have an obligation, which is usually a promissory note. And there is a pledge of collateral that goes secures  the note so that if the note is not paid, then the lender has a right to take back the collateral. So, the obligation is secured by what the collateral is and a real estate transaction. You have the bar or sign the note, and then they also sign a mortgage. And the mortgage states that if they don’t make the payments on the promissory note, they don’t pay the taxes or keep the property insured. Then you have a right if they default to foreclose and take their property away. So, you’re secured for the value of whatever the collateral is. If it is personal property, such as an automobile, they have, you signed what they call a security agreement.
And that’s where you’re pledging the automobile for the repayment of the loan. If you default on the loan and there that controlled by the uniform commercial code, which allows them self-help, which is usually a repossession of your automobile with a tow truck driver or whatever. And then they sell the, automobile at auction or whatever, to try and recoup as much as they can to repay a portion of the debt. So, sometimes the obligations are over secured in which case you’re entitled to any excess. If the collateral is not worth or not worth what is owed well, then you may be sued. And for the difference between the value of the collateral when it was sold or at the time of the sale, and how much is owed and a judgment entered against you. If you have any questions about a foreclosure action, or give me a call at (727) 847-2288.

Video Summary

What kind of lawyer handles property disputes? Well, that’s difficult to give you a specific category. You probably just need to call to particular lawyers and ask them if they handle property disputes and see if they do that. A lot of general practitioners, who do litigation can handle a property dispute. You can also, uh, contact board certified real estate attorneys and ask if they would handle a property dispute. Some of those board certified real estate lawyers do litigation and others do not. So, it’s very difficult to give you a particular category or person to contact, I suggest that you may be start with the board certified real estate lawyers and call and ask if they handle a dispute and sorta tell whoever answers the phone, what the dispute is to see if that’s in their area of expertise, because not all real estate lawyers litigate. If you have any questions about a property dispute, I’ll give me a call at (727) 847-2288.