This is applicable in condo buildings and co-ops where assessments can often amount to significant monthly expenses. Regulations established by local governments describing the minimum structural requirements for buildings. Codes include foundation, roofing, plumbing, electrical, and other specifications for safety and sanitation. A written document, property signed and delivered, that conveys title to real property. It is usually signed and handed over during closing.
Recording is essential to protect one's interest in real estate.
A deed that contains a covenant that the grantor will protect the grantee against any and all claims. It usually contains covenants assuring good title, freedom from encumbrances, and quiet enjoyment. A separate bank account segregated from a broker's own funds, in which the broker is required by state law to deposit all monies collected for clients. The party to whom the title to real property is conveyed is the grantee or the buyer. Anyone who gives a deed is the grantor.