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Another Reason to Wed

Posted on Jan 06, 2014 by admin in blog news

When the federal government enacted 12 USC 1701j-3, the purpose, as suggested in the title, was to preempt state legislative enactments and judicial decisions that prohibited enforcement of due-on-sale clauses. As of 1985, all of due-on-sale clauses are enforceable, thanks in part to this statute. The legislators provided several exceptions to the due-on-sale enforcement, among these is the ability to transfer encumbered property through devise, decent or operation of law after the death of joint tenant or tenant by the entirety under ...

Due on Sale Clause and Transfers to Trusts 12 USC § 1701j–3

Posted on May 17, 2013 by admin in blog news

If you read through your mortgage carefully, you will notice that the bank reserves the right to accelerate the repayment of your loan in the event that the property is sold or transferred without the bank's written approval. This clause is there to safeguard the bank's rights in the property, which is the collateral for your loan. While an outright gift or sale to a third party is what the clause is intended to guard against, transfers arising out of estate planning strategies can and do trigger a breach of ...

Unitary Patent

Posted on Apr 11, 2013 by admin in blog news

This is a new "invention" of the European Patent Office (EPO). The EPO is moving forward in creating a unified patent system for participating countries. Details of this system will become clearer with time. Therefore, it is too early to talk about things like examination time and fees. For now, the participating members have agreed to pursue the project and to establish a common court with jurisdiction over unitary patents. The unitary patent system would represent an improvement over the current structure because the resulting patent would be automatically enforceable in ...

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