Navigating California's real estate landscape can be complex, but this episode simplifies it for you! We delve into the crucial distinctions between real property and personal property, including examples like land and permanent fixtures versus movable items. Understand the four fundamental types of estates in real property recognized in California: estates of inheritance (fee simple), estates for life, estates for years, and estates at will. Discover the essential escrow process, which acts as a neutral third-party holding funds and documents, ensuring all transaction conditions are met before closing. Learn about the typical 30 to 60-day escrow timeline and common reasons why a transaction might fall out. We also demystify title insurance, explaining its vital role in protecting buyers and lenders against hidden liens, defects, and claims on the property's title. Explore the different types of policies—owner's and lender's—and the customary party responsible for paying in various California regions. Tune in for valuable insights to make your California real estate journey smoother and more secure!
Works Cited
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