Hattiesburg Real Estate Glossary - An Overview

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POWER OF SALE - A clause prepared right into a mortgage authorizing the mortgagee to promote the residence during the event of default.

BENEFICIARY - A person who receives the advantages through the gifts or functions of A different, for example a single that's specified to get the proceeds from a will, insurance coverage coverage or believe in.

To look for an MLS Listing Quantity, you should type a # symbol in front of the variety and click on lookup Look at the spelling and formatting:

Summary OF TITLE - A concise, summarized background with the title to a specific parcel of real property, along with an announcement of all liens and encumbrances affecting the property.

Disclaimer: Faculty attendance zone boundaries are provided by Pitney Bowes and are topic to change. Check Together with the applicable school district prior to making a choice based upon these boundaries.

Attending to one among around one hundred supermarkets by strolling can be an option for some, although not all, house entrepreneurs in Hattiesburg. You can also find a couple of prospects for those who benefit close by eating places.

Shade OF TITLE - A condition which has the appearance of good title, but which in fact isn't valid title, as where title is Launched on some written document which on its facial area seems valid and powerful, but which is in fact invalid.

SECONDARY MORTGAGE MARKET - A market for the acquisition and sale of existing mortgages, intended to offer bigger liquidity for mortgages; also called secondary dollars market place.

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Also, particular expenses are not mirrored in this calculation, by way of example any gasoline surcharge that may be applicable at the time of your move and valuation charges.

TAX LIEN - A general statutory home lien imposed from real home for failure to pay for taxes. You'll find federal tax liens and condition tax liens.

CONSTRUCTIVE Detect - Detect of sure information which might be implied bylaw to somebody mainly because he could have found the fact by reasonable diligence or by inquiry into community data.

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Exclusive Guarantee DEED - A deed by which the grantor warrants or ensures the title only in opposition to defects arising over the duration of his tenure and ownership on the residence rather than from defects existing ahead of the time of his possession.

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