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When Is It Time to Use a Trustee Deed?

A deed is a document that conveys ownership in real property. There are several different kinds of deeds, one of which is a trustee deed. Buying a home with a trustee deed can offer you a great deal, but it's important to be aware of the drawbacks to this kind of conveyance. A trustee deed—sometimes called a deed of trust or a trust deed—is a legal document created when someone purchases real estate in a trust deed state, such as California (check your local laws to see what is required in your state). A trust deed is used in place of a mortgage. A person (the lendee) buys a home and finances it through a bank (the lender). A third party—the trustee, usually an escrow company—legally holds title to the home for the lender as security against the loan. If the buyer defaults on the loan—that is, doesn't pay it back—the trustee is allowed to do a nonjudicial foreclosure. This means they don't have to go to court and can foreclose on the home directly. The home is then sold to satisfy, or payback, the loan to the bank. The person who buys the home at the sale receives a trustee deed at the time of purchase.

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John Uebler lawyer 2020-01-10 18:51:47
Property You Should Not Include in Your Last Will

There's no doubt that creating a will is smart estate planning, but not all property can or should be included in a last will and testament. How can you make sure you're including and excluding the “right” assets? You may be wondering, then, with all of the property listed above that shouldn’t be included in your will, what exactly should be included? The easy answer is everything else, but generally any real or personal property that will not pass automatically to a beneficiary upon your death should be listed in your last will and testament. The best way to make sure you're not forgetting anything is to simply sit down and make a list of all of your assets as well as corresponding people you would like to receive them after your death. The major drawback with purchasing a home via a trustee deed is that there may be other outstanding loans in place against the property. These could include unpaid IRS liens, unpaid property taxes, or contractor's liens. If you buy the home with these liens in place, you're responsible for settling them. A key consideration to keep in mind is that the trustee deed may be from a second mortgage (such as a home equity loan), leaving a first mortgage still in place and unpaid on the property. Another issue with trustee deeds is that it can be very challenging to obtain a mortgage yourself if you are purchasing the property with only a trustee deed, because there is no guarantee that the title is clear. Cash purchases are best.

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Terrance Gwiriri lawyer 2020-01-10 18:49:19
Why Do I Need a Registered Agent?

If you own and/or run a small business, chances are your state requires you to have a registered agent—most do. But even if your state doesn't, strongly consider getting one. A registered agent is a responsible third-party in the same state as the business, who can receive service of process notices, correspondence from the Secretary of State, and other official government notifications—usually tax forms and notice of lawsuits—on behalf of the corporation or LLC. If you do not have a physical location in the state in which your business is registered, in most states, you must select a registered agent to accept documents on your behalf. The state in which your business is registered needs to know it has a contact person for your business during business hours; accordingly, PO boxes are not acceptable addresses for registered agents.

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Kongove Mathis lawyer 2020-01-08 20:58:06
How to Search for Design Patents

Many people who have a design idea that they feel is completely unique contemplate manufacturing or producing the design, and obtaining a patent for their idea. While many potential inventors do have 100 percent original ideas, other ideas already have a design patent in place. To determine whether your idea is unique or already has a patent, you will need to perform a design patent search. Apply for a patent from the U.S. Patent and Trademark Office (USPTO). A patent search will be conducted as part of the application examination process at no additional cost You don't need to request a search, as it is automatically done for each applicant. The application fees vary according to the type of design patent you need. Visit the USPTO official website and search for design patents online. There is no cost to do this, and you can access the website from any location, as long as your computer has Internet access. Go to the USPTO library nearest you to perform a design patent search. You can use the library list located on the USPTO official website (see "Resources" section that follows). Use a paid design patent search service, such as Quick Patents or Simple Patents. The cost for a patent search typically ranges between $175 and $300, depending on the service you choose.

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John Uebler lawyer 2020-01-06 20:34:33
How to Check a Copyright Registration

The U.S. Copyright Office is responsible for filing an arranged content to protect the author's rights. Works of literature, music, art, pictures, movies, recording of sounds and architectural documents are able to be filed. Copyright protection will not be granted for works including titles, names, ideas and methods. A copyright is used as an defense against unlawful use. When searching or checking for a copyright registration, you must have some form of information relating to the document. This can be in the form of the author's name or title of publication. Open the link to the U.S. Copyright Office located in the references section below. Look to the left of the webpage screen (beginning search screen) and click on the "Search Records" button. Afterwards, Click the "Search the Catalog" button. Check by the title of the publication or author's name. Type in the title of the document and scroll down the bottom screen to click "Title" selection. Start the search by clicking the "Begin" button. You must type in the title exactly how it is published and refrain from using a, the and other articles. If searching by author's name, type in the last name followed by the first or type in a corporation name exactly how it is used by the business. Check by inputting a keyword to the document. This search will retrieve all documents containing the words inputted in the search box. Use quotation marks when referring to the document by exact name. To find a variation of the document's name, use "?" right after the word or phrase. An example of this is, "paper?". If a word must appear in every search result, add "+" before the word or phrase. On the beginning search screen, type in your keywords and click the keyword button on the bottom screen. Click the begin search button. Check by the registration number. All registration numbers will have 12 characters. The document number will start with two to three letters and the rest numbers. Do not use any hyphens, underscores or spaces between these 12 characters. On the beginning search screen, type in the registration number, click the "registration number" button on the bottom screen and press begin search. Check by the document number. All copyrighted material will also have a nine character document number. This number will start with the letter "v" followed by four numbers, the letter "p" or "d" and ending with three numbers. From the beginning search screen, type in the document number, click the "document number" button on the bottom screen and press begin search. Have the Copyright Office conduct a search for you. The Copyright Office will search all of its public records to locate the documents you want retrieved. However, they will charge you $165 an hour to do so. This fee is based on a two-hour minimum charge and is prorated through the duration it takes to check copyright records. It is not certain whether they can find the documents you need and certain limitations apply.

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Terrance Gwiriri lawyer 2020-01-03 19:52:23
How Much Does a Divorce Cost?

People who are contemplating getting divorced have many questions. One of the most common is how much their divorce will cost. The costs will vary, depending on such factors as whether or not you and your spouse agree on the major issues, and whether you will require the services of an attorney. There are ways to get divorced without spending a fortune. Advance planning for your divorce will give you a better idea about how much it will cost. What Does the Average Divorce Cost? The average divorce cost is a relative term. Different factors determine whether the cost of divorce will be on the high or low end of the spectrum. Things that factor into the cost of a divorce include: Where you're getting divorced Whether you're using a lawyer for your entire divorce or only part of it Whether you have children Whether you're doing it yourself Whether you're doing your divorce online Whether you're using mediation or collaborative divorce Whether you agree with your spouse about major issues Whether you need to go to trial

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Ulysses lawyer 2020-01-02 20:22:51
What Is a Dissolution of Marriage?

If you are seeking to end your marriage, you need a dissolution of marriage for you and your spouse. There are a variety of steps in the process to dissolve a marriage. What Is Dissolution? Dissolution is the formal, legal ending of a marriage by a court, commonly called a divorce. A dissolution of marriage completely ends your legal relationship as spouses and ends your marriage. Unlike an annulment, a dissolution does not “undo" the marriage as if it never existed. Instead, it is a legal close to the marriage. How Do You Get a Dissolution of Marriage? To obtain a dissolution or marriage divorce, one spouse must file a divorce petition, also called a petition for dissolution of marriage. The dissolution of marriage form varies by state, and can be found on your state court website. This form usually asks for basic information about you and your spouse (such as names, addresses, dates of birth, and date of marriage, as well as information about any minor children) and asks you to indicate the reason you are seeking a divorce (called the grounds for divorce—note that all states now have a no-fault grounds available). The dissolution papers also ask if the petitioner (the person filing) is seeking custody, child support, spousal support, or property distribution. The Dissolution Process Once the petition is filed, it must also be legally served on the other spouse (in some states the order is reversed—you serve it, then file it). The other spouse (upon whom the petition is served) then will have the opportunity to answer and state what he or she agrees or disagrees with in the dissolution papers. As the divorce process moves along, the petitioner may need to file a more detailed complaint, explaining exactly what they are asking for and why. The spouses have to provide complete financial disclosures to each other and to the court, detailing all of their assets and debts. Most cases settle without a trial, either through negotiation or through mediation or collaborative law. If the case does not settle, it will move forward to a trial, where each side will present evidence and testimony about all of the issues being decided. If the case goes to trial, the entire process can take many months and possibly more than a year to reach the final resolution. Do You Need a Lawyer? It's generally recommended that you at least talk with an attorney about your divorce case, so that you can understand all of your rights and the specific procedures required in your state. If you and your spouse are in agreement, it then can be fairly simple to move ahead and handle the divorce yourselves or with assistance from an online service.

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Ulysses lawyer 2020-01-02 20:20:09
Can I Form an LLC While Employed or Working at Another Job?

Have a brilliant idea for a new business but personal circumstances won’t permit you to quit your job to start up a full-time business? Or maybe you just need to make some extra income to supplement the money you take home from your day job? If you’ve been thinking about starting up a side business while you’re still employed, and an LLC, or Limited Liability Company, seems like the ideal vehicle for this side business, you may be wondering if you can form an LLC while employed or working at another job. Starting a business on the side while still holding down your day job is an ideal way to dip your toes into entrepreneurial waters. It’s also a good way to earn some much-needed supplementary income. But in most cases, you want to hang onto your regular job, whether it’s because the regular paycheck will help your new start-up business stay afloat until it becomes financially viable or whether you’re just wanting to start a side business to earn some extra money. It’s therefore a good idea to make sure your idea to start an LLC won’t lead to unwanted consequences when it comes to your job. State LLC Formation Rules And Regulations You may think you are barred from starting an LLC while employed at another job because of state regulations for forming an LLC. State laws regulating LLC formation do vary from state to state, but while there are different procedures to follow depending on the state in which you live, states do not look into your employment status when you’re submitting an application to form an LLC. When it comes to complying with the legal rules required to start an LLC, whether or not you’re employed at the time you start a business is irrelevant to your state’s LLC registration regulations. Have a brilliant idea for a new business but personal circumstances won’t permit you to quit your job to start up a full-time business? Or maybe you just need to make some extra income to supplement the money you take home from your day job? If you’ve been thinking about starting up a side business while you’re still employed, and an LLC, or Limited Liability Company, seems like the ideal vehicle for this side business, you may be wondering if you can form an LLC while employed or working at another job. Starting a business on the side while still holding down your day job is an ideal way to dip your toes into entrepreneurial waters. It’s also a good way to earn some much-needed supplementary income. But in most cases, you want to hang onto your regular job, whether it’s because the regular paycheck will help your new start-up business stay afloat until it becomes financially viable or whether you’re just wanting to start a side business to earn some extra money. It’s therefore a good idea to make sure your idea to start an LLC won’t lead to unwanted consequences when it comes to your job. State LLC Formation Rules And Regulations You may think you are barred from starting an LLC while employed at another job because of state regulations for forming an LLC. State laws regulating LLC formation do vary from state to state, but while there are different procedures to follow depending on the state in which you live, states do not look into your employment status when you’re submitting an application to form an LLC. When it comes to complying with the legal rules required to start an LLC, whether or not you’re employed at the time you start a business is irrelevant to your state’s LLC registration regulations.

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Yates Hirschi lawyer 2019-12-27 11:14:58
How to write a declaration letter

A letter of declaration is used to declare something or to verify that the recipient understands a particular issue. A letter of declaration has a format similar to any other formal letter. Sometimes formal letters like a declaration letter may need to be sent via certified mail or the signature must be signed in ink in case it may be used for legal purposes later. List your contact information on the left margin of the page. Your contact information may include your name, address and phone number. Leave one space and type the date you are writing the letter. List the name of the recipient, as well as her address and Postcode. Greet the recipient by her first and last name or last name only. State the reason for the declaration letter. For example, the first paragraph should explain the declaration you are making. It should be approximately one to two sentences. Provide further details of the declaration/intention. For example, if you are declaring a promotion write one to three sentences to list the top reasons why you deserve the promotion. Reiterate your declaration and also provide next steps for the recipient to respond to your declaration. For example, if requesting a promotion mention a time for you all to physically sit down and discuss the promotion, including details regarding your availability.

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Ulysses lawyer 2019-12-27 11:08:51
What is Title Insurance?

Buying a new home involves investigations into the property to ensure that the home's condition, the property, and other significant factors are acceptable. But certain facts about a home or a piece of land may be difficult and even impossible to discern, such as fraud on a property's previous mortgage or title deed. This is where title insurance comes in. Title insurance protects you against claims and errors related to ownership or the title deed, which occurred prior to your purchase, but came to light afterward. When you purchase a home with a mortgage, your lender requires you to purchase a title insurance policy called a lender's policy. This policy protects the lender's financial interest in your home up to the amount of your mortgage, should a title claim arise. Since the mortgage amount is often less than the home's sale price or its value – due to your down payment contribution – a lender's policy doesn't cover the full amount of a home's cost or value. An owner's policy covers more than the loan amount. It protects your interests in the event of an adverse claim by paying the legal fees to establish a clean title. Cash buyers who do not need a mortgage do not purchase a lender's policy, but usually do purchase an owner's policy for their own protection. You pay the cost for title insurance only once, and the coverage continues as long as you hold title, and even after you sell the home. At closing, your share of the title fee – or premium – for the lender and owner's policies are paid through your settlement fees, also known as closing costs. The cost of title insurance typically varies based on the home price and the state you live in, and can range from several hundred dollars to several thousand. The national average premium was $1,000 at the time of publication. The title examination or search, as well as any title defect that is discovered before you close, can affect the cost.

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Silvln Crowley lawyer 2019-12-26 21:08:41

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