Bk Law

Archive for January 17th, 2017

Joint tenants

Posted on: January 17th, 2017 by BK Law

Two or more people owning property where on the death of one, the survivors inherit the deceased’s share.

Insurance binder

Posted on: January 17th, 2017 by BK Law

A document provided by the insurance company confirming that a property has been insured.

Fixtures

Posted on: January 17th, 2017 by BK Law

Any physical property that have become permanently attached or affixed to the real property; immovable possessions attached to the real property.

Escrow closing

Posted on: January 17th, 2017 by BK Law

Exchange and holding of necessary deliveries like funds, keys and documents by the respective lawyers pending registration of the electronic documents.

Balance due on closing

Posted on: January 17th, 2017 by BK Law

The total amount the purchaser pays to the vendor to complete the real estate transaction.

Home Inspection

Posted on: January 17th, 2017 by BK Law

An inspection conducted by a certified inspector professional that conducts detailed inspection of the condition of a property including structural, plumbing etc.. A satisfactory home inspection is one of the conditions in the Agreement of Purchase and Sale of a property for the benefit of the purchaser.

Down Payment

Posted on: January 17th, 2017 by BK Law

A portion of the purchase price of a property paid by the buyer(s) from their own resources without a mortgage.

Transfer /Deed

Posted on: January 17th, 2017 by BK Law

The legal document showing the conveyance and title/ownership to a property.