Zoning Laws

Zoning law is a mechanism by which government controls the use of land.

Deeds

In order to transfer title to real property from one person to another, some type of written instrument is required based on a doctrine known as the Statute of Frauds. The written instrument that is most commonly used to effectuate such transfers is known as a deed.

Adjustable Rate Mortgages

Delilah was very happy when she received her pre-approval notification for a mortgage loan. In fact, her lender pre-approved her for $25,000 more than she needed to purchase her first home. Delilah is now in the process of finalizing the details with the lender before the settlement on her home. The lender has offered her a fixed rate mortgage as well as an adjustable rate mortgage.

Wrap-Around Mortgages

A wrap-around mortgage refers to a type of loan transaction. With a wrap-around mortgage, a lender (often the seller of property) assumes or continues responsibility for an existing mortgage and makes a new mortgage for an additional sum which essentially "wraps" around the old mortgage, because the lender will make the payments on the old mortgage.

Sharecropping

Generally speaking, the term "sharecropping" refers to an between a property owner and another person whereby the property owner hires the other person to farm the property owner's land. In exchange for the person's labors, the person is entitled to receive a share of the crop or harvest. Over the years, however, many different forms of sharecropping arrangements have been developed between parties.