| Subleases |
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| A sublease is a tenant's agreement to allow a third party (sublessee) to take over the rent and occupancy of leased premises. In a sublease, the tenant remains obligated to the landlord under the original lease, and the sublessee becomes the tenant of the original tenant. The landlord may agree to accept rent payments directly from the sublessee, although he or she is not required to do so. More... |
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| Considerations for Sellers of Real Estate |
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| There are probably as many reasons for putting a house up for sale as there are sellers. Regardless of the reasons, once the decision is made to sell, sellers have many things to consider that will make the process run smoothly. Among them are the physical condition of the property, the selling price, the remaining balance on any other mortgages or liens that are recorded against the property, and the use of a broker. More... |
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| Real Estate Broker and Agent -- Definitions and Licensing |
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| Real estate agents are sales persons who usually work for a broker in exchange for a portion of the commission earned by the agent on a sale or purchase of real estate. Brokers usually work out of an independent business and arrange for sales of real estate. More... |
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| Tax Liens |
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| A tax lien is a mechanism that is available to a taxing authority to insure the payment of taxes. With regard to real property, a tax lien may arise when a property owner fails to pay the taxes that are due on a property. A tax lien constitutes a cloud upon the property owner's title to the property. More... |
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| Percolation Tests |
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| A percolation test, or "perc test," is performed on undeveloped land in order to determine whether the land is absorbent enough to support the installation of a septic system. Typically, the test is performed by a hydraulic engineer. More... |
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