Month: February 2019

Condominium Law In The Us

Condominiums, in law, is viewed differently in some major countries such as in the US. English Common law tradition holds that real property ownership must involve land, whereas the French civil law tradition recognized condominium ownership as early as the 1804 Napoleonic Code; thus, it is notable that condominiums evolved in the United States via a Caribbean government with a hybrid common-civil legal system. It was only during recent years that condo in Philippines became more popular.

In 1960, the first condominium in the Continental United States was built in Salt Lake City, Utah. Initially designed as a housing cooperative (Co-op), the Utah Condominium Act of 1960 made it possible for “Graystone Manor” (2730 S 1200 East) to be built as a condominium. The legal counsel for the project, Keith B. Romney is also credited with authoring the Utah Condominium act of 1960. Romney also played an advisory role in the creation of condominium legislation with every other legislature in the United States. Business Week hailed Romney as the “Father of Condominiums”. He soon after formed a partnership with Don W. Pihl called “Keith Romney Associates”, which was widely recognized throughout the 1970s as America’s preeminent condominium consulting firm.

Although often mistakenly credited with coining the term “condominium”, Romney has always been quick to point out that it harks back to Roman times, and that he merely borrowed it. Nowadays, the leadership of the industry is dominated by Community Associations Institute or CAI. If you want to buy some luxury condo in Philippines, then try and visit an online real estate company.

An alternative form of ownership, popular in the United States but found also in other common law jurisdictions, is the “cooperative” corporation. It is also known as “company share” or “co-op”, in which the building has an associated legal company and ownership of shares gives the right to a lease for residence of a unit.

Another form is leasehold or ground rent in which a single landlord retains ownership of the land on which the building is constructed in which the lease renews in perpetuity or over a very long term such as in a civil law emphyteutic lease.

Undivided co-ownership is still another form of civil law joint property ownership. With his form of ownership, the owners own a percentage of the entire property but have exclusive possession of a specific part of the property and joint possession of other parts of the property; distinguished from joint tenancy with right of survivorship or a tenancy in common of common law. Learn where to buy some of the most luxurious condo in Philippines by visiting an online real estate broker.

Become A Good Trainee Mortgage Adviser By Cemap Training

If it is your intention to embark on a career as a mortgage advisor and be successful and earn fabulous income, then the obvious route is to first become a Trainee Mortgage Advisor and arm yourself with Certificate in Mortgage Advice and Practice (CeMAP) qualification.

You may not need academic qualifications to be able to pass the CeMAP exams but the one thing you will positively need is a strong urge to succeed in a highly competitive industry.
The CeMAP consists of three different modules – the module one and two offer aspirants the knowledge and skills required to function as mortgage advisors. Module three comprises of objectivity based questions to test the applicant’s ability and aptitude to apply the understanding received from 1 and 2 modules.
To acquire CeMAP qualification, you must achieve examination passes in each of the three CeMAP modules, namely:

CeMAP Module 1 UK Financial Regulation
CeMAP Module 2 Mortgages
CeMAP Module 3 An assessment of mortgage advice knowledge

But as long as you do not hold the CeMAP qualification, you are barred from doing consultancy services on issue related to mortgage. Once you obtain the certification, you can either get gainfully employed or act as a freelancer to recommend lenders to the public.

In either case, you can expect to earn handsomely. CeMAP training courses are essentially designed for individuals who are new to the mortgage industry and without any mortgage background whatsoever. Though CeMAP was earlier more of an aptitude test conceived by the institute of Financial Services (IFS), it is today a nationwide familiar NVQ level 3 qualifications.
The test contains three main papers – multiple choice of 100 questions for CeMAP 1 & 2 and sixty subjects for CeMAP 3. To achieve overall pass and obtain CeMAP qualification, you need to pass each of the 3 CeMAP modules.

Aspirants wanting to take CeMAP training can easily find some well-organized CeMAP courses run by reputed and reliable training companies. There are different types of CeMAP training that are available classroom course, home study course and online course. There is also the seminar method of learning primarily meant for busy working professionals who are in a hurry to obtain CeMAP certification. These crash courses generally extend up to 3 days and very intensive in nature.

Most CeMAP course costs include all training materials, IFS CeMAP mock exam papers, exclusive training guides and revision notes plus all-round support. Today, CeMAP training course also comes in the form of lively CD-Roms. This is a complete training course designed to fully prepare you for CeMAP certification

You should however exercise caution when selecting the CeMAP training company as many organizations may be far too commercial-minded, relieve you of your money and provide inadequate support. The right CeMAP training institute will not only teach you the course content but guide you on the exam techniques as well. Please also make sure that the CeMAP training company you finally select assures you of success in the exam or agrees to offer free training for the subsequent attempt.
Even if you join any leading training CeMAP training company, please remember that it calls for dedication, concentration, hard work and the determination on your part to succeed and obtain the coveted certification.

What You Must Know About Professional Condominium Software Online

Property management comes with great responsibility, especially since it is almost impossible to keep up with all the issues related to the property singlehandedly. Condominium management has prompted the development of condominium management software that makes it easy for property owners and management companies to keep up with the management of the property.

This software has been developed with the needs of the condo manager in mind and has the ability to even manage reservations for the property. The features required by the manager of the condo depend greatly on how the property was sold or how it was managed. Condos can require a lot of management involvement since there are instances where those who rent them only need to stay for a short period of time after which the property is up for rent again. This is where the accounting software for condos comes in handy. It is necessary to properly track the profits generated by the activities relating to the condo maintenance as well as other issues. The software makes it very easy to generate financial reports and statements for the condominium and even makes it easy to come up with a budget that will work for the good of the property. This is essential since the only way a condominium can turn a profit is by proper management of finances.

The software is also very important in that it helps the property owner put up images on the internet to attract more potential clients. For this to have the right impact and stir the right reaction from the market, the condo needs to be well maintained and should be up to the market standards. All this calls for proper management skills which are made easier with the software. Technological developments are experienced with every passing day, meaning that new and better things are constantly being developed to help in making day-to-day living easier. When it comes to property management, it is important to get the best management software, especially for accounting purposes. Successful property management relies on how well one is able to manage the finances relating to the property.

Condominium Software has become very popular in the real estate industry as more people prefer them compared to other forms of housing. Since there are so many accounting programs that can be used in managing condos, it is important to search for software that will serve the purpose with ease without making the work too difficult for the manager. This is the most important factor of all if the property is to stand out from the competition that is growing by the day in the real estate market. The kind of software one chooses in the management of a condominium should be easy to understand and use. It is common for people to buy software that it too hard to use, requiring that an expert who knows how to use the software be brought in. This may be done at the expense of the client and can be a costly affair. To avoid this, it is always important to choose software that one can maneuver around with ease. Clients should be able to enjoy the benefits of the software soon after its installation.

The Unlucky Many The Credit Crunch and the Mortgage Market

How has the credit crunch affected you?’ is going to be one of the biggest and most often asked questions of 2008, and only a lucky few will likely be able to answer -not at all’.

More likely is you’ll receive an answer from one of the unlucky many whose finances have been stretched and tested – especially those with mortgages. In just a couple of years, the face of the mortgage market has changed dramatically, with banks and lenders desperate to pull something back in the wake of some reckless credit lending in recent years.

These changes are reflected in the results of recent studies into the mortgage market, in particular the facts showing the limiting of mortgage products available. March 2008 alone saw a drop of 2026 mortgage products (from 7726 to 5700) across the residential and buy-to-let markets, while home-loan deals have seen a fall from the 15,600 available in July 2007, to just 4,700 available today. Overall, then, mortgage lending has declined to an estimated 24 billion, a 6% decrease from February 2007, while February 2008 saw the lowest number of new mortgages approved since July 1995.

Though clearly foreseeable, one of the biggest products lost this year was the 100 per cent mortgage. In what has already been dubbed an end of an era, the last lender to provide a deposit-free loan withdrew the deal earlier this month. Buyers will now need to lay down a minimum deposit of 5% – an average of 10,000 – though one expert maintained that the withdrawal of the 100% mortgage from the market was a -sign of things to come’, and that it wouldn’t be long before the 95% mortgage followed in kind.

One of the beauty spots of the mortgage market that has seen an increase in products, though, is fixed-rate mortgages. Despite the two-thirds drop in the overall number of different mortgages available, the number of fixed-rate mortgages fixed for over 10 years has thought to have risen to a new high of 132. And with an estimated 1.4-million fixed-rate mortgage deals ending over the next twelve months, and customers looking to renew their packages, there luckily remains some choice in this area of the market.

Homeowners looking at fixed rate mortgages will, however, be hit by a sudden rise in payments when they switch to a new mortgage; the average to fix a mortgage for 10 or more years now being 6.14%, compared to an average 5.89% a year ago. With the future of interest rates uncertain though, fixed-rate mortgages still provide a more stable and secure payment plan – which is why the Chancellor announced his support for lengthy fixed deals in his Budget.

What is important for all homeowners or first time buyers thinking of going down this avenue of payment is that they compare fixed-rate mortgages and judge for themselves whether fixed-rate is the correct choice for them. A recent study showed that three out of four people didn’t know the difference an extra 1% had on mortgage payments, so if you’re unsure, also make certain you calculate the amounts you’d need to pay on different packages using an online mortgage calculator and be sure to speak to a professional beforehand.

Best Cities In India For Property Investing

Property is one of the long-term investments. When buying or selling a property in India one should be aware about the present scenario of real estate sector of respective city. But there are few cities in India, where you dont have to think much before investing like Delhi and Mumbai.

Demand of Property in Delhi

The real estate sector of Delhi is booming due to the amazing development over the past few years. Delhi has become the center of numerous corporate houses. The place is blessed with the better education facilities, job opportunities, entertainment zones, and more. Owing top these reasons the demand of property in Delhi is rapidly growing whether its residential property or commercial property. The prices of Delhi properties are rising and are going to soar in future.

The craze of buying the property in Delhi has reached to a peak level. Delhi is majorly segregate in to five separate zones and each zone has its value and unique in themselves. Like South is recognizing as the ideal destination for shopping, East counts as the most diverse population, north known as educational hub and Central for posh localities. West Delhi has well-known for the top-notch infrastructure and quality life style.

So property buyer in Delhi can choose the location as per their preferences and budget.

Demand of property in Mumbai

The city Mumbai is also known as trade capital of India. The arrivals of Multi nationals, Information technology giants and other big companies has increased the demand for high-end and luxury properties in Mumbai. The employees working on these companies have high salaries is of course demand for the quality living standard. The residential property in Mumbai is in high demand. Thus they preferred fully furnished, lifestyle homes instead of the regular apartments in Mumbai.

Well the real estate sector in Mumbai is not only booming in residential property but also boost in commercial property. The prices of commercial property in Mumbai are touching to the sky. It is a dream of every business man to have an own property in this city. The some great development is seen in many places in Mumbai like Bandra, Andheri, Santacruz, etc. But in terms of industrial and commercial sector, South Mumbai properties are in huge demand.

To know the exact prices of properties in Delhi and Mumbai, visit to the online India property portals from where you can easily gathered the deep details of your concerned property.

Introduction To Marital And Personal Property Under Thai Marriage Laws

A Thai prenuptial agreement, also called a premarital or ante-nuptial agreement in Thailand, is a legal document, signed by both parties before marriage in Thailand. Under Thai law the prenuptial commonly lists each party’s personal assets, and could give management of certain jointly owned marital property to one of the parties. It could also state potential division of jointly owned marital property if the marriage is later dissolved (at death or divorce).

Community and personal property under Thai marriage laws:

Under Thai marriage laws personal property of each spouse remains personal property of each spouse during the marriage. If personal property has is exchanged to other property, other property has been bought or money has been acquired from selling it, such other property or money acquired shall remain personal property of that spouse.

Property acquired from income (income in the form of a salary) and fruits from personal property (any income derived there from) during the course of the marriage will become marital or jointly owned property between husband and wife (marital property means property between husband and wife pertaining to marriage or relating to marriage in Thailand). Marital or community property between husband and wife will, with some exceptions (property acquired by either spouse during marriage through a will or gift), consist out of all property acquired during the marriage, even if it is not titled in both names.

An official Thai marriage (opposite to a Buddhist ceremonial wedding) is an internationally recognized marriage and foreigners marrying in Thailand should in addition to legal advice locally in Thailand seek legal advice in his or her home country to assess the consequences of the marriage in their home country.

A prenuptial agreement in Thailand must be registered prior or at the time of marriage at the local amphur (district office) or the Civil and Commercial Code (sections 1465 to 1493) will describe the couples marital property regime.

Knoxville Reia – Real Estate Investors Association

Across the country big cities are sprouting up their own real estate investors association. Knoxville, Tennessee is no different. Entrepreneurs in East TN have several options for real estate investing education. They can get information from books on the subject, become an apprentice of a seasoned investor or study a course on the topic. The Knoxville Real Estate Investors Association (REIA) is the easiest place to start. It’s like the previous three (book reading, apprenticeship and a course study) ALL ROLLED INTO ONE PLACE. Members learn to use the power of leverage by concentrating their efforts on mentoring, networking and education.

At the Knoxville area REIA (Investors Club Meeting) members discuss topics such as foreclosures, REO’s (bank owned) properties, short sales, wholesale deals, flips, rehab and rentals. Members learn what they all mean and how to use them in their business.

Mentoring –

Club members can become an apprentice to a seasoned investor at the REIA. The mentor can help them decide what is the best strategy for accomplishing their investing goals. A good mentor can shorten the learning curve and greatly accelerate the road to success.

Networking –

Successful property investors at are actively building their business. They are the one’s who are doing deals and making money by investing, because they have a large network of business contacts. REIA members understand the importance of networking and building relationships in the property investing business.

Education –

It doesn’t matter if the members of the REIA are veteran investors or if today is their first day learning how to invest. Real Estate Education is a life long process and it goes without saying that active investors should never stop learning. The Knoxville REIA brings together the best in investing information available in TN to help it’s members earn more in real estate. Their goal is to bring it’s group of investors the most up-to-date education.

Past Speakers –

In the past the Knoxville REIA has been hosted by real estate guru’s such as Lou Brown, and Than Merrill of A&E’s “Flip This House” (just to name a few).

The Knoxville REIA offers education from seasoned investors that are there to speak about their particular area of investing expertise. This is how members learn from their mistakes. It saves them both time and money. Find out how to take the next step. Current meetings are held in west Knoxville on the third Tuesday of every month (subject to change).