Many real estate contracts in this area have a provision in the contract that the seller will give the buyer a non-homestead credit, if homestead is not in place on residential property as of January 1 of the current tax year. A non-homestead seller credit is a credit given to the buyer by the seller […]Continue reading

Matthew Vitart will be presenting at a continuing education seminar titled “Real Estate Closings from Start to Finish” on February 1, 2019, at the Holiday Inn in Pearl, Mississippi. The seminar is hosted by the National Business Institute and is approved by the Mississippi Real Estate Commission and the Mississippi Bar. Attending realtors and lawyers […]Continue reading

In general, there are two potential basis that may support a real estate broker’s claim for a commission on a transaction: 1) pursuant to a contract (such as a listing agreement), or 2) acting as the “procuring cause” of the transaction. These grounds are not mutually exclusive; they may overlap or be intertwined in a […]Continue reading

Purchasing a home will probably be one of the most if not the most significant purchase you will make in your life. It also involves the transfer of real property, which involves may aspects of law. A lawyer is trained in the legalities of transferring property and has the experience to deal with the unique […]Continue reading

Your closing costs might include two types of title insurance policies, but do you know how these policies differ. Title insurance policies include: Lender’s policy Owner’s policy Lender’s Policy If you’ve ever mortgaged a home, chances are you were required to purchase a title insurance policy. This lender’s policy (often called a loan policy) is […]Continue reading

Mississippi landlords are likely to be pleased with Senate Bill 2473, which was adopted in the 2018 Legislative Session and became effective July 1, 2018. The new law makes landlord-friendly changes to the Residential Landlord Tenant Act (Section 89-8-1 et seq. of the Mississippi Code) and to the statutes addressing eviction of tenants in Sections […]Continue reading

Have you ever wondered why the document used to convey title to real estate is called a “deed”? The word’s meaning derives from what I consider to be one of the coolest legal ceremonies in our tradition – the “Turf & Twig Ceremony” earlier known as “Livery of the Seisin”. In that ceremony, which dates […]Continue reading

I am frequently asked if the settlement agent collects property taxes at closing to pay directly to the tax collector. Typically, the settlement agent does not collect property taxes unless they are currently due. In Mississippi property taxes are due when billed but delinquent after February 1 of the following tax year. If your closing […]Continue reading