NLIC.org

Eric Said:

Where can I find good sample questions and answers for a job interview?

We Answered:

http://jobsearch.about.com/od/interviewq…

Daryl Said:

im buying a foreclosed home soon and the bank wanted me to do a limited warranty deed.?

We Answered:

It is common practice for all corportions, including banks to convey property by limited or a special warrenty deed. That's because it protects the company assets for errors that result from before the company owned the property. Basically it warrents that the company has done nothing to make the property less marketable whle they've owned it.

If you bought the property at a sherrif's sale, then you bought any other existing leins. If you bought the property from the bank after the property was foreclosed and the bank bought the property at the sherrif sale, then all pre existing leins should have been exstinguished.

Your purchase agreement should outine if the bank has to give you title insurance. If the bank is not, then purchase your own policy.

Freddie Said:

How can you challege someone for ownership of a property?

We Answered:

Yes, someone else other then the foreclosed on dead beats could come up with a deed and try to challenge it.

June Said:

buy fire/hazard insurance for primary home under LLC?

We Answered:

I don't know of ANY insurance company that will write a HOMEOWNERS policy on a property owned by a corporation.

That's because one of the requirements of a homeowners policy, is that it is owner occupied - and because a corporation, including an LLC, is an artificial entity, the property CANNOT be owner occupied.

If the LLC owns it, and you live in it, it's two seperate entities. You cannot have both teh asset protection aspect, AND the cheap owner occupied policy rates.

You will have to buy a more expensive policy to cover the property and liability of the corporation.

Eugene Said:

Special Assessment protection?

We Answered:

Title insurance has nothing to do with paying for needed repairs to property, and that is what this special assessment is intended to do. Your relative will have to pay whatever assessment is decided upon by the condominium board. If he fails to pay, a lien will be filed against the property.