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To begin with, co-op sales are not officially recorded because, technically, they are securities transactions involving the selling of shares, and not transfers of title.
To begin with, co-op sales are not officially recorded because, technically, they are securities transactions involving the selling of shares, not transfers of title.
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Now a further snag could put off a transfer of title for months.
Otherwise, the seller is liable as guaranteeing transfer of title free from any encumbrances.
The other is the lender's accepting a transfer of title from the owner in exchange for forgiving the loan.
At completion the transfer of title is signed by both parties before a notary and the rest of the money is handed over.
Horacio Morales, secretary of agrarian reform under Mr. Estrada, liked the concept of a joint venture, but rejected the transfer of title as illegal.
Under this system transfer of title does not take place unless and until the transfer has been registered in the system.
The transfer of title is not valid as to third parties, or even between the parties themselves, until the transaction has been registered in the Grundbuch.
The legal definition of registration is transfer of title ownership, so anything that's registered is handed over to the governing body; the thing itself is no longer yours.
In a report on the bill, the state bar association says it "fails to prohibit recision" -- annulment of the deal -- "after the transfer of title, as most other states do".
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CEO of Professional Science Editing for Scientists @ prosciediting.com