HOMESTEAD - STATUS PROVIDE TO A HOMEOWNERS PRINCIPAL RESIDENCE BY SOME STATE JUDGMENTS UP TO SPECIFIED AMOUNTS..
(EXPLANATION) A HOMEOWNER IS NOT FORCED TO SALE THEIR HOME TO PAY THEIR DEBT.
QUITCLAIM DEED - A DEED THAT CONVEYS ONLY THE GRANTORS RIGHT OR INTEREST IN REAL ESTATE, WITH STATING THE NATURE OF THE RIGHTS AND WITH NO WARRANTIES OF OWNERSHIP OFTEN USED TO REMOVE A POSSIBLE CLOUD ON THE TITTLE CONTRAST WITH GENERAL WARRANTY DEED
(EXPLANATION) TO OBTAIN A TITTLE, THE OWNER MUST OBTAIN QUITCLAIM DEED FROM ALL THE PARTNERS IN THE OLD DEAL.
LIS PENDENS - RECORDED NOTICED OF THE FILING OF A SUIT, THE OUTCOME OF WHICH MAY AFFECT TITTLE TO A CERTAIN LAND
(EXPLANATION) WHEN A HOMEOWNER DOESN'T PAY THEIR HOME MONTHLY A FORECLOSURE SUIT IS FILED.
ASSESSMENTS - THE AMOUNT OF TAX OR SPECIAL PAYMENT DUE TO A MUNICIPALITY OR ASSOCIATION
(EXPLANATION) WHEN YOU OWN A LAND ASSESSED ON THE TAX ROLL.
By Jimmy Bustamante & Davina Jackson
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