Category Archives: Real Estate

TYPES OF TITLE INSURANCE

In a recent blog post (What is Title Insurance & Do I Need It) I discussed the basics of title insurance.  This blog post discusses the different types of title insurance that are generally available in a residential real estate closing. The Loan Policy: A loan policy of title insurance is always required by the… Read More »

WILL HOMEOWNERS BE AFFECTED BY THE NEW FEDERAL TAX LAW?

Congress recently passed and President Trump signed into law a sweeping overhaul of the federal income tax structure. The experts are still sorting out all of the various parts of the very complicated law and its potential impact on individuals and businesses.  Discussed here are some of the changes in the tax code most likely… Read More »

MORTGAGE LOAN LIMITS INCREASED FOR 2018

Loan limits are being increased for both conforming loans and FHA loans for 2018. The Federal Housing Finance Agency (FHFA) recently announced an increase in the “conforming” loan limits effective January 1, 2018. (Click for More Info). Conforming loans are those loans which are readily saleable into the secondary mortgage market (specifically to Fannie Mae… Read More »

COMMERCIAL LEASES – Important Considerations For Tenants

For many small business owners, one of the first major transactions as they grow or transition from a home-based business is signing a lease as a tenant for commercial space for their growing business. All too often, a new commercial tenant will not scrutinize the proposed lease as carefully as they should before signing it,… Read More »

WHAT IS TITLE INSURANCE AND DO I NEED IT?

Many home buyers are surprised to learn that one of their closing costs is for “title insurance.” What is title insurance and why is it needed at most real estate closings? In simple terms, title insurance is a policy of insurance that insures the title to real property. It is different from homeowner’s insurance, which… Read More »

WHAT IS ADVERSE POSSESSION IN CONNECTICUT?

It is commonly thought that you can acquire ownership of real property through “squatter’s rights;” by using someone else’s property and then eventually being able to legally claim it as your own. This is actually the legal concept known as adverse possession.  Adverse possession originates from common law and is now a part of the… Read More »

NEW LEGISLATION AFFECTS OPEN BUILDING PERMITS

As discussed in a previous blog post (Obtaining A Municipal Records Search), many purchasers of residential real estate are now reviewing the town records concerning the building permits on the subject property.  Unfortunately, sometimes the records show an “open” permit, meaning a homeowner pulled a permit for repairs or improvements, but there is no record… Read More »

WIRING FUNDS? – BEWARE OF WIRE FRAUD SCHEMES

The use of wired funds for real estate closings is extremely common. Wired funds are immediately available, with no concerns regarding checks being forged, not clearing or being dishonored by the originating bank.  Unfortunately, there has been a recent surge in wire fraud schemes, many of which involve funds being sent for real estate closings. … Read More »

DO I NEED A MUNICIPAL SEARCH OR A BUILDING DEPARTMENT SEARCH WHEN PURCHASING A HOME?

When purchasing a home, it is always necessary to have a title search performed of the town land records to verify ownership, and to insure that any existing mortgages, liens or taxes are paid, so that you receive clear title. One of the tasks of the buyer’s attorney in a residential home purchase transaction is… Read More »

NOTARY CLOSINGS, A BAD CONCEPT!

Notary closings are usually performed in refinance transactions. Your lender will send all the closing documents to a Notary Public (Notary Service) who will schedule a time to come meet you and have you sign the documents. It sounds simple, convenient and there are no attorney’s fees. That’s a win, win, win…right? Wrong. FIRST, a… Read More »

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