If you’re refinancing a mortgage in New York there’s a unique financial tool that could save you thousands: CEMA, which stands for Consolidation, Extension, and Modification Agreement. This type of mortgage is specific to New York State and allows homeowners to avoid paying mortgage recording tax on the full amount of a refinanced loan. Here’s … Continued
Lady Bird Deeds: A Potential Smarter Way to Pass on Property in Florida
This includes the right to: Live in the property for lifeSell, lease, or mortgage the property at any time. Change the beneficiaries or revoke the deed without their consent A Lady Bird Deed, officially known as an Enhanced Life Estate Deed is a type of deed that lets you pass your property directly to your … Continued
What is a 1031 Exchange?
When a business owner divests a property and reinvests the proceeds into another, immediate tax obligations are postponed. This strategy allows for the deferral of capital gains taxes associated with the initial property sale Types of Exchanges Delayed Exchange: The most frequently used exchange. In this scenario, the exchanger usually hires a Qualified Intermediary to … Continued
What is Title Insurance?
Title insurance stands apart from typical insurance coverage. While most insurance policies guard against potential future risks, a title policy shields against the repercussions of past events. Furthermore, unlike other insurance types, a single premium payment secures a lifetime of coverage. What does Title Insurance do? Title insurance is like a shield for the paperwork … Continued
