Mark Warner

If you are a sports fan, you have likely heard of option agreements as part of a professional athletes’ contract with his or her current team The world of real estate has option agreements, as well

It is no secret that the world of real estate legal wrangling can be pretty confusing, especially if you aren’t an experienced legal expert Many different types of contracts only differ by a small amount, such as the difference between a real estate option contract and a right of first refusal contract

In it simplest terms, a promissory note is a written promise to repay a loan or debt under specific terms - usually at a stated time, through a specified series of payments, or upon demand A promissory note will clearly identify the parties, the amount of the obligation, and if necessary, the consideration for the obligation, that is, what the debtor has already received or will receive in return for signing the note

A contract for deed, also known as “land contract”, is a legal agreement between a buyer and seller of real property, whereby the seller immediately transfers equitable title to the buyer but retains legal title, agreeing to transfer legal title to the property only after the buyer has paid the full purchase price

While the idea of promissory note has likely been around since the advent of currency (if not before), the promissory note itself dates from about the 10th century The promissory note has changed little in a millennium

If you’ve ever found yourself in a situation where you needed to get out of a binding lease, you have probably discovered the murky and often confusing legal waters that come with this area of law Not only do you need to have a lease termination agreement that satisfies both renter and rentee, but you also need to have an intimate knowledge of the original lease to be able to work from

If you are planning to build your own home, the entire process can be extremely overwhelming There are very few projects you or anyone else can take on that are more stressful and more prone to problems