In fact, there are multiple types of deeds. Let’s look at the more common ones you’re likely to encounter here in Tennessee.
This type of deed guarantees that there are no liens on a property and that a seller has the right to transfer ownership. It also guarantees that if a lien or other issue is discovered later, the seller is responsible for resolving it.
This type of deed guarantees that there are no current liens on a property. However, it doesn’t protect a buyer if a problem that predates the seller is discovered. Special warranty deeds are often used when foreclosure and other bank-owned properties are sold.
These deeds are typically used only when property is transferred among family members or others who know and trust each other. A quit claim deed transfers the current owner’s rights and interests in the property to another person. However, it also transfers any liens or other encumbrances on the property. Therefore, it’s always wise to make sure there aren’t any unless you’re prepared to have responsibility for them.
As you can see, these deeds (and others) offer different levels of protection for the buyer or recipient of a property. That’s why it’s important to know what kind of deed comes with a property you’re preparing to buy or even one that you’re inheriting or being gifted. It can help to have experienced legal guidance when you’re involved in any kind of real estate transaction to help protect your rights and avoid unnecessary costs and legal issues in the future.
]]>One thing that Ford wants to do is create a campus in Tennessee. The hope is that it will be a center for the production of batteries and electric trucks. But it’s going to cost about $5.6 billion to build. The benefit, in addition to producing the vehicles, is that it would create around 5,800 jobs for people in Tennessee.
In order to get these jobs, and for other reasons, the government said that they would give Ford around $884 million in incentives. Roughly $200 million of this is going to go toward road improvements and the construction of new roads to make this plant possible.
The issue that has come up is that a new highway interchange is necessary for this manufacturing plant. In order to create the necessary roads, the state is attempting to use eminent domain on roughly 35 tracts of land. This land is currently owned by Tennessee farmers.
Some farmers who are involved say that they’re not being offered a fair market value. One man claims that the state offered him just over $8,000 an acre, but that his land is worth $200,000 an acre.
This underscores how problematic eminent domain issues can be for property owners and why disputes over financial compensation often arise. Those who are involved in this process must understand all the legal steps that they can take.
]]>Unclear terms often lead to conflicts in contracts. Even when both parties sign a contract, there may not be a clear understanding of the client's expectations. It's important to remain calm when dealing with unhappy customers. Pay close attention to their concerns, do your best to understand the issue and work towards a reasonable solution.
Here are some of the most common conflicts that owners of construction companies face:
Most issues in projects arise when the initial contract is broken. In such scenarios, it is crucial to have a conversation with your customer to describe the circumstances and work out a solution together. However, if your customer is unwilling to cooperate with you to resolve the problems, it might be time to seek assistance.
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