Feature Age Deed For Free

California mainly uses two types of deeds: the ?grant deed? and the ?quitclaim deed.? Most other deeds you will see, such as the common ?interspousal transfer deed,? are versions of grant or quitclaim deeds customized for specific circumstances.

What makes a condo ineligible for Fannie Mae approval? If the lender's review of the condo project (either limited or full) reveals any of Fannie's Mae's ?ineligible characteristics,? the unit is not eligible for Fannie Mae financing.

In California, quitclaim deeds are commonly used between spouses, relatives, or if a property owner is transferring his or her property into his or her trust. A grant deed is commonly used in most arms-length real estate transactions not involving family members or spouses.

Projects with Property that is not Real Estate Fannie Mae acquires mortgage loans secured by real estate. Houseboats, boat slips, cabanas, timeshares, and other forms of property that are not real estate are not eligible for delivery to Fannie Mae.

A deed is evidence of a specific event of transferring the title of the property from one person to another. A title is the legal right to use and modify the property how you see fit, or transfer interest or any portion that you own to others via a deed. A deed represents the right of the owner to claim the property.

Since you won't be able to finance a non-warrantable condo using a loan backed by Fannie Mae, Freddie Mac, the FHA, or VA, there are more limited loan options for borrowers seeking to purchase these properties. The good news is there are lenders that offer mortgage loans for non-warrantable condos.

restricted community is one in which a homeowners' association outlines and enforces rules. Those rules can regulate the way the neighborhood or subdivision looks and the way the properties in it can be used.