Real Estate & Lease Litigation: March 2013 Archives

Hidden Defects May Invalidate Deeds

Recording real estate deeds in a county registry is intended, among other things, to prevent fraud and ensure that a prospective buyer can verify that the seller actually owns the property for sale. In the rare case where a seller sells a property twice, if the first buyer promptly records her deed, the second buyer is considered to be "on notice" that the seller no longer owns the property, and thus the second deed is treated as void in light of the first, recorded, deed. This rule protects "first buyers" who record promptly from claims of ownership brought by others, and it protects potential "second buyers" from unwittingly accepting an invalid deed.

Bankruptcy Court Rules Remainder Interests Not Subject to Homestead Exemption

In a "Chapter 7" bankruptcy proceeding, a debtor's assets are liquidated, and the proceeds are divided among the debtor's creditors. Some of the debtor's assets, however, may be exempt from liquidation under various provisions of federal or state law. One such exemption is created by the Massachusetts Homestead Statute, M.G.L. c. 188, §§ 1, et seq. The Homestead Statute protects a debtor's home from most creditors, subject to certain restrictions. To qualify for this "homestead exemption," the debtor must be an owner of a home who occupies the home or intends to occupy it as a principal residence.

Property Owned in Family Trusts - A Recipe for Conflict

When parents or grandparents are able to pass down residential property to their children and grandchildren, it should be a piece of the American Dream come true. And, with foresight, good planning, and a little bit of luck, it can be. Too often, however, these "gifts" can devolve into situations that tear extended families apart. It often doesn't take long before family members start to treat each other unfairly and eventually become openly hostile towards each other.

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