Bank America sues itself in unusual foreclosure
On March 29, 2012, Bank of America was seeking to foreclose on a
condominium and named the condo owner and Bank of America as defendants
in the suit. The company is literally seeking damages from itself in
order to foreclose on the condo owner. I find this interesting with the way Bank of America is handling the case. Apparently this isn't an unusual practice for Bank of America as they also did it 11 more times in the same month alone.
Monday, April 29, 2013
Assignment 3
Task 1.
We had two guest speakers, Dr. Harrison and Mr. Gentry, come to class to speak about real estate in their lives, specifically the project they are working on in town. They both graduated from Texas A&M and were part of the corp. Dr. Harrison works in medicine at A&M and Mr. Gentry is a lawyer.
They are both working on a $4.7 million project off of Briarcrest and Highway 6. They receive their funding through a play from the city of Bryan. The city uses a Tax Incremental Reinvestment Zone to get their funding. The expected date of completion is August 2013.
What most interested me was how Dr. Harrison actually acquired the land. Apparently, his great grandfather won it playing a game of poker. I wonder what his winning hand was.
We had two guest speakers, Dr. Harrison and Mr. Gentry, come to class to speak about real estate in their lives, specifically the project they are working on in town. They both graduated from Texas A&M and were part of the corp. Dr. Harrison works in medicine at A&M and Mr. Gentry is a lawyer.
They are both working on a $4.7 million project off of Briarcrest and Highway 6. They receive their funding through a play from the city of Bryan. The city uses a Tax Incremental Reinvestment Zone to get their funding. The expected date of completion is August 2013.
What most interested me was how Dr. Harrison actually acquired the land. Apparently, his great grandfather won it playing a game of poker. I wonder what his winning hand was.
Assignment #2
Task 1.
Private restrictions on real estate basically are the limitations on property owners of what they can and cannot do with their property. Common tools used to limit the way a property owner can use a property are covenants, conditions, and restrictions.
Importance of CC&R's in Home Buying
Task 2.
Public restrictions include taxation, eminent domain, police power, and escheat. A common tax includes property tax. Eminent domain is the right of the government to take private property for public use upon the payment of just compensation. Police power is the power to regulate use of private property to protect public health, safety, morals and general welfare. Escheat is the government’s right to acquire ownership of land when the landowner dies without an heir or a valid will.
Deleware Case over Eminent Domain
Private restrictions on real estate basically are the limitations on property owners of what they can and cannot do with their property. Common tools used to limit the way a property owner can use a property are covenants, conditions, and restrictions.
Importance of CC&R's in Home Buying
Task 2.
Public restrictions include taxation, eminent domain, police power, and escheat. A common tax includes property tax. Eminent domain is the right of the government to take private property for public use upon the payment of just compensation. Police power is the power to regulate use of private property to protect public health, safety, morals and general welfare. Escheat is the government’s right to acquire ownership of land when the landowner dies without an heir or a valid will.
Deleware Case over Eminent Domain
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