Will Substitutes

Revocable Living Trust In many jurisdictions, trusts cannot be revoked unless the trustor expressly retains the right to revoke. Revocable living trusts allow a trustor to manage his assets, to plan for his incapacity, and to avoid probate. The beneficiary … Continue reading

Constructive Trusts

Trusts are sometimes classified by the intent, if any, of the settlor to create a trust. This article discusses the kind of trust for which the settlor’s intent is irrelevant: the constructive trust. Defined When, to remedy an injustice, a … Continue reading

Co-Ownership Myths – II

One of the most confusing aspects of estate planning is the numerous myths about co-ownership of property. Many people do not understand the differences between a tenancy in common and a joint tenancy with right of survivorship. Many people do … Continue reading

Right-to-Farm Laws

Laura and Heath decided that they’d had enough of the city. The smog, the noise, and the commotion were all just too much. They decided to build their dream home on a rural piece of property. Once the construction of … Continue reading

Mortgage Servicing

What is a mortgage servicer and what are the mortgage servicer’s obligations to the borrower? Jason just settled on his first home. During the closing Jason received a document that discussed mortgage servicing. In essence, the document indicated that Jason’s … Continue reading

Flipping Scams

In recent years, so-called “flipping scams” have received widespread attention in the media. How does it work? An unscrupulous investor purchases a cheap, run-down, property. Usually, the property is situated in a low-income neighborhood. In some circumstances, the investor will … Continue reading

Bi-Weekly Payment Plans

Jillian purchased her first home within the last year. She obtained a traditional 30-year, fixed-rate mortgage. The mortgage was payable in monthly installments. Since she moved in the house, Jillian has received numerous advertisements in the mail describing the tremendous … Continue reading