Vocabulary Lesson 8

vocabulary property guiding

Lesson 8

Ever wonder what the fees on your HUD meant, let alone what they were? In this vocab lesson, see what it is you are really paying for.

1. Title Insurance

– Insurance that protects the lender (lender’s policy) or the buyer (owner’s policy) against loss arising from disputes over ownership of a property.

2. County Taxes

–Taxes provide a way for the government to have the needed funds to pay up for the services that the people in the county or state utilize and enjoy.

3. Documentary Stamps

– The revenue stamps issued for payment of a tax on recorded documents such as deeds.

4. Intangible Tax

– A tax imposed by some states or local governments on the value of intangible assets such as stocks, bonds, money market funds, mortgages and bank account balances.

5. Recording

– The noting in the registrar’s office of the details of a properly executed legal document, such as a deed, a mortgage, a satisfaction of mortgage, or an extension of mortgage, thereby making it a part of the public record.

6. Association Dues

– A fee collected by the association (collected monthly, quarterly or annually) to fund common interests and liabilities.

7. Affidavits

– A sworn statement in writing.

Look for lesson 9…did you really think that is all we had???

Title Junction is a full service real estate title company serving the area of Fort Myers, Cape Coral and the entire state of Florida since 2005. The company handles a number of real estate title services for both commercial and residential properties. Employees of Title Junction can also act as a witness in courtesy closings as well as an escrow agent or a notary public.

Please contact Jennifer Ferri of Title Junction, LLC for further information @ 239-415-6574 or http://www.title-junction.com

Posted on April 12, 2013, in Title and tagged , , , , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink. Leave a comment.

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