The real estate market place is dynamic and always changing. Right now it looks like it's changing for the better. With the encouraging reports in the media recently, and the $8,000.00 first time buyer tax incentive, more and more people are buying and selling homes today, and they're looking for guidance from real estate sales professionals. A career in real estate is potentially more rewarding now than ever before.
Men and women interested in exploring the possibility of starting a career in the real estate industry are invited to a free Real Estate Career Seminar, Tuesday evening October 6, 2009 at 7:00 PM at the Prudential Starck Realtors office, 1218 E. Main Street (Rt.64) in St. Charles.
The seminar is called "A Night of Questions and Answers" and will focus on requirements for licensing, qualifications and exams along with questions about earning potential, training and what it takes to get started.
Refreshments will be served. Reservations are requested and can be made by calling 800-375-7032. For more information call or go to YourHouseAcademy.com.
Wednesday, September 23, 2009
Tuesday, September 8, 2009
What is a Life Estate
Another topic that confuses some students involves understanding what a Life Estate is all about. People can hold different interests (estates) in real estate: freehold (ownership) or leasehold (lease). Within the freehold catagory there are several types of fee simple and one called "life estate." A life estate is created when someone deeds ownership of realty with the stipulation that the ownership terminates upon the death of some individual. An example might be deeding a home to aging parents for as long as they're alive with the ownership reverting (reversionary interest) to you when your parents die. The "life of" person could be the grantor, the grantee, or some other person (called pur autra vie for the life of another). One question that might come up is can the grantee sell the life estate? Yes, but whoever buys it will still lose ownership when the life of the person named in the deed die (remember you can only sell what you own and you only own the property as long as the named person is alive.)
Subscribe to:
Posts (Atom)