CAREI Coaching by Bill Bronchick Gives Practical Tips on Property Recording System
Bill Bronchick provides excellent CAREI coaching on property recording system. His excellent CAREI coaching gives practical tips on property recording. If you are trying to find out how much someone paid for a property, simply read the edge of the deed.
The recorder usually prints how much transfer tax was paid on the margin of the deed. If you know the tax rate for transfers in your county, simply do the math backwards. This way you will discover what was paid for the property, even if the purchase price is not stated on the deed.
The most common indexing system is by grantor (the person conveying an interest, usually the seller or mortgagor) and grantee (the person receiving an interest, usually the buyer or mortgagee). All documents conveying property or an interest therein (deed, mortgage, lease, easement, etc.) are recorded by the grantor's last name in the grantor index. The same transaction is cross-indexed by the grantee's last name in the grantee index, exclaims Bill Bronchick.
In his CAREI coaching, Bill tells about recording statutes in each state, which dictates who wins in a battle over ownership. Most states follow a "race-notice" rule, which means that the first person to record his document wins, so long as he received title in good faith, and paid value, and had no notice of a prior transfer.
In order to get expert mentoring from Bill Bronchick, log on to www.careicoaching.com.
About Bill Bronchick Bill Bronchick, CEO of Legalwiz Publications, is a nationally known attorney, author, entrepreneur, and speaker. Mr. Bronchick has been practicing law and real estate since 1990, having been involved in over 1,000 transactions. He has trained countless people all over the United States to become financially successful, speaking to audiences of as many as 16,000 at "Get Motivated" events sharing the stage with names like Rudy Guliani, Steve Forbes, and Colin Powell.
His best selling book, ‘Flipping Properties' was named one of the ten best real estate books of the year by the Chicago Tribune. Bill Bronchick is also the co-founder and President of the Colorado Association of Real Estate Investors and the President and Chairman of the College of American Real Estate Investors.