Chambless • Math, P.C., lawyers in Montgomery, AL, Alabama

What Is The Doctrine of Waste?

The rationale behind the doctrine of waste is that one who is entitled to receive a future interest in real property is entitled to receive the property in the same condition it was in at the time the future interest was created by the original grantor. Although the doctrine of waste may prevent changes to property which increase the value of the property, more often it refers to action or inaction which damages the property in some respect. More...

Types of Deeds

In order to transfer title to real property from one person to another, some type of written instrument is required based on a doctrine known as the Statute of Frauds. The written instrument most commonly used to effectuate such transfers is known as a deed. The law governing deeds varies from state to states and, in fact, many states have set forth standardized forms for use as deeds in their law. Generally speaking, however, parties to a transaction involving the transfer of real property use one of three types of deeds to effectuate the transfer:More...

What Is A Lien? A General Overview

What is Marketable Title and How Is it Affected by Liens?More...

Foreign Investment in Real Property Tax Act FIRPTA

In the year 1980, Congress enacted the Foreign Investment in Real Property Tax Act (FIRPTA). The law can be found at 26 U.S.C.S. § 1445. Briefly stated, the law provides that if a seller of real property is a "foreign person," the buyer must withhold a tax equal to 10% of the gross purchase price, unless an exemption applies under the law. More...

Homeowners' Associations

What Is A Homeowners' Association?More...