This is Dave Phillips and I am going to write a few paragraphs concerning the tenancy by the entirety, an estate available only to a husband and wife. At common law, the concept was that the wife and husband existed as one unit; hence the term “by the entirety.” This concept is very similar to...
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Michigan Title Services
The Tenancy By The Entirety
The Joint Tenancy With Full Rights of Survivorship
Let me start by posing a question: how many homeowners in Michigan do you think would intentionally hold title with their co-owner as: joint life estate with alternative contingent remainders? I dare say that the answer is probably one in one thousand. Now, let me compare and contrast the joint tenancy with full rights...
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The Joint Tenancy
Welcome back. Please refer to my previous blog concerning the tenancy in common. In review, there are three common ways in which title to Michigan lands can be owned by more than one person; the so-called concurrent estates. These are: 1) The Tenancy in Common; 2) The Joint Tenancy, including its awkward cousin the Joint Tenancy...
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The Tenancy in Common
My name is Dave Phillips. I am the Chief Title Examiner at Reputation First Title Agency. If you are interested in learning some basic and unique insights regarding land title, then this is the blog for you. My intent is to start from the ground up. I aim to walk our readers through the wonderful world of...
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Shop for your title insurance!
This is a nice article from Fox Business on shopping for title insurance. http://www.foxbusiness.com/personal-finance/2011/12/12/shop-for-title-insurance-and-closing-services/#ixzz1gMQD3OaY The more consumers shop for their title insurance, the better for us as a profession. So shop around! If you have any questions regarding title insurance rates or closing fees, please call our office at 734.432.0100 and we will be...
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WSJ Article regarding the housing recovery that wasn’t
According to this article and interview from the Wall Street Journal, the housing recovery has not happened and may still take years. Bearish outlooks on housing aren’t hard to find these days, but one stands out even for this market. Scott Simon, a managing director and head of global asset-giant Pimco’s mortgage- and...
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The importance of title insurance for foreclosed properties
This article was posted by a member of the Title Insurance Law Group on Linked In. If you are considering the purchase of a foreclosed property, you may want to read the above article. I hope these buyers purchased title insurance! This article is a case study why title insurance is more important than ever...
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Detroit Home Sales Article
http://www.detnews.com/article/20110628/BIZ/106280388/1001/Detroit-home-sale-prices-lag-in-spring-despite-uptick-elsewhere Informative article on Detroit home sales.
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And now for something completely different…the “Lady Bird” Deed
A “Lady Bird” deed is an estate planning tool named after deeds used by President Lyndon B. Johnson to transfer real property to his wife “Lady Bird” Johnson. When using this deed, the grantor conveys her interest in the property to a grantee, yet retains a life estate with full power to convey, mortgage...
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Fighting Property Taxes – Article
http://michiganmortgagenews.com/?p=1057 Above is a link to a recent article in Michigan Mortgage News about making certain your property tax assessments are fair and how the process works. Kim Kimberly Tortora President
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