Newsletters
Real Estate Broker and Agent -- Definitions and Licensing
Real estate agents are sales persons who usually work for a broker in exchange for a portion of the commission earned by the agent on a sale or purchase of real estate. Brokers usually work out of an independent business and arrange for sales of real estate.
Eminent Domain and the Public Use Doctrine
Eminent domain refers to the power of a government entity to take private property. The power can be used by the federal government in the name of a federal agency or a branch of the military services. A state, county, city, village, or town can also use the power of eminent domain to take private property on its own behalf or on behalf of an agency of a governmental entity. In all cases, the governmental entity may only exercise the power of eminent domain, also called condemnation, if it needs the private property for a public use.
Reasonable Dispatch Service -- A Mover's Obligation to Deliver
When a homeowner or a tenant enters into a contract with a mover to transport furniture and furnishings out of state, those federal laws and the regulations adopted by the Federal Motor Carrier Safety Administration (FMCSA) come into play. The FMCSA requires a mover to transport a shipment with "reasonable dispatch."
Nonconforming Uses, Conditional Use Permits, and Variances
Zoning ordinances enforce or develop a comprehensive plan to divide property within a governmental entity's borders. The ordinances restrict a property owner's use of his or her private property so that the public's health, safety, and welfare are protected, maintained, and developed. Zoning ordinances affect the structures that already exist within the governmental entity's borders at the time the ordinances are enacted.
Mortgagee Insurance
Most residential real estate transactions involve a mortgagee. A mortgagee is the financial institution that loans the money to enable the homeowner to purchase the real estate. The mortgagee is a creditor of the homeowner. When the mortgagee lends the funds, it takes back a security interest in the real estate. As a secured creditor, the mortgagee is entitled to protect its interest in the real estate to the extent of the unpaid balance of the mortgage.
