In your real estate career, you will hear the term power of attorney, and attorney-in-fact plus it shows up on your exam, so understanding the terms is […]
Attorney-in-Fact
All posts by Zackary Smigel
Eminent Domain, Condemnation, and Inverse Condemnation
Eminent domain is the governments right to take over privately owned real estate for public use. Eminent domain is a government power granted by the constitution and protected […]
Escheat
Escheat is the government’s right to take ownership of unclaimed real estate or assets. Escheat is a government power granted by the constitution, and part of the […]
Release Clause
The release clause, also known as a buyout clause is a contract provision that allows for the freeing of all, or part of a property, through a […]
Subordination Clause
The subordination clause, also known as the subordinate clause in real estate, finance, and banking refers to the order of priorities in claims for ownership or assets. […]
Prepayment Penalty Clause
A prepayment penalty is a fee some mortgage lenders charge if a borrower pays off their loan too quickly. Sounds a little crazy, right? Well, it kinda […]
Acceleration Clause
If a mortgage exists, odds are it includes an acceleration clause. The clause requires a borrower to repay all of an outstanding loan if upon a breach […]
Defeasance Clause
In certain states, a defeasance clause is a required contract provision that ensures that the title for the property is transferred to the buyer, once the mortgage […]
Alienation Clause
Lets talk about the alienation clause, also known as the due-on-sale clause. Don’t worry it has nothing to do with extraterrestrial life. The act of transferring title, […]
Habendum Clause
The habendum clause typically is a section of a contract that deals with rights and to whom or what is granted. A clause identifies a particular section […]
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