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10 Reasons You Should Take a Closer Look At The Deed to Your Home

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Whether you have a mortgage deed or another type of ownership, knowing what is on the deed to your home is essential. Not only will you protect yourself for the future financially, but you’ll also understand your rights. here are 10 reasons why you should take a closer look at the deed to your home.

1. Verify Type of Ownership

Do you know what kind of ownership is listed on your deed? Deeds can have several types of title ownership such as joint tenancy, sole ownership, tenancy in common, and mortgage deed. It’s important to know what kind of ownership is on your deed to determine how it will be passed down or transferred, what your legal right to the property is, and taxes and liabilities.

2. Catch Errors

Sometimes clerical errors happen on deeds. Double checking your deed can make sure that there are no disputes in the future. Sometimes older deeds are handwritten and need to be legible. This may be something that you need to update.

3. Identify Liens

Are there any liens or claims to your property? This should all be evaluated before purchasing a home. Over time, liens can be put on your deed for unpaid debts, taxes, or judgments. These must be rectified before the sale of a property.

4. Prevent Fraud

Check for fraud on your home's deed
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Did you know that title fraud has become more prevalent? Title fraud happens when someone illegally transfers property by using forged documents or stolen personal information. Loans may be taken against your property illegally or it could be sold without your knowledge. Title insurance can help protect you, but you also should regularly check your deed for unauthorized changes.

5. Confirm Property Boundaries

It’s important that your property boundaries are correct on your deed. Then, if you have any property disputes with neighbors, or are making improvements you can refer to your deed. Developers may also challenge your property lines if a project commences near your property.

6. Easements and Covenants

Easements and covenants may restrict the way that you use your property. For example, a private easement might give neighbors access to use your property to access a beach or a utility easement may run through your property. A covenant like an HOA could restrict your landscaping or exterior. Knowing these pieces of information will help you make decisions about your home.

7. Confirm Mortgage Satisfaction

If you’ve recently paid off your mortgage, make sure that your mortgage company has refiled your mortgage deed and noted the satisfaction of the loan.

8. Comply with Zoning Laws

If you’re planning any improvements in the future, it’s a good idea to see if your deed complies with local zoning laws. This can prevent headaches in the future when applying for permits.

9. Prepare for Property Taxes

The deed to your home will determine who is responsible for property taxes. Certain types of ownership may also qualify for tax exemptions such as trust. If you have a mortgage deed, mortgage interest is usually tax deductible as well. Of course, you should consult a tax professional for help with tax preparation.

10. Ensure the Right Beneficiaries

If you’ve inherited property or plan to pass it on to heirs, you should make sure that the deed to your home reflects this. The type of deed structure will determine how your home is passed on. With the right deed structure, this will make it less complicated for your heirs.

Have you taken a closer look at the deed to your home? What questions do you have?

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Bondsmen 101: Who They Are and How They Help You Post Bail

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What you need to know about bail bondsmen
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A bondsman is a person or company that will help you post bail if you don’t have enough money to pay the full amount upfront. This is a practice that has been used since 1898 in the United States. But, it is outlawed in many other countries. According to a Bureau of Justice Statistics report issued in 2007, data shows that more individuals show up for court when released on bail if a bail bondsman is used. The study found the no-show rate for those on bail bonds was 18%, versus 30% for those released on unsecured bonds. So, while commercial bail bonds may be controversial, they do have a purpose. Here’s what you need to know if you require their services.

How It Works

Bondsmen deposit a bond with the government on the defendant’s behalf. It is a bondsman’s responsibility to make sure that the defendant shows up in court. They may use a bounty hunter to make sure the defendant appears. If the defendant fails to appear in court, the bondsman will try to recover the bail amount. Usually, they have 180 days to do so.

How Much Do They Charge?

Bondsmen typically charge a non-refundable fee of 10%-20% of the bail amount. Some discounts may be available for veterans, military members, and union members. A smaller percentage may also be charged if the defendant has private counsel since they are more likely to show up in court.

On top of this, they will negotiate a down payment and payment plan. In some circumstances, they may require collateral for the bail bond.  In Nevada for example, it is allowed that a house may be used as collateral and a deed of trust must be issued to the bail bondsman, essentially putting a lien on the property.

What Do You Need to Obtain a Bail Bond?

If you are working with bondsmen, there are several things you will need to obtain a bail bond. Typically, a co-signature from a family member is required. A bondsman may also ask for a bill with an address on it, photo ID, and check stubs. Types of payment can include checks, cash, or credit cards. Once a bail bond is secured, defendants can be released from jail within hours.

Exceptions

Some states have banned the use of bondsmen and instead use a cash deposit alternative. These states include Illinois, Oregon, Wisconsin, and Kentucky. The American Civil Liberties Union has criticized the practice of bail bonds as a form of injustice against low-income communities and fueling the mass incarceration of innocent people.

In addition to states that outlaw bondsmen, some states like California have very strict penal codes regarding bondsmen. The California Department of Insurance regulates the industry. Bondsmen and bounty hunters are not allowed to engage in any illegal activity when trying to bring a defendant in or recover a debt. For example, they can’t force entry into a defendant’s home. In many ways, the profession is not like what is often portrayed in the movies or television.

Do you have additional questions about bondsmen? Let us know in the comments.

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5 Streaming Services Scaling Back Amid Subscriber Losses

5 Streaming Services Scaling Back Amid Subscriber Losses

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streaming services losing subscribers
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According to Fortune Business Insights, the video streaming market is now valued at over $670 billion. Additionally, there are approximately 1.8 billion subscriptions to video streaming services and 34% of all TV usage is dedicated to streaming. The industry enjoyed a significant boom during the COVID-19 Pandemic, and many companies hoped subscriptions would continue to grow at the same rate. In many cases though, streaming services are now losing subscribers.

Now there are so many streaming services available to consumers that some of the ambitious hopes companies placed in streaming services are being dashed. Many consumers are unsubscribing from multiple platforms due to rising costs and cutbacks on family sharing. Outside economic factors have also forced many Americans to cut back on subscriptions within their budgets. As a result, some of the major streaming services are scaling back their content. Here are 5 streaming services that are scaling back because of subscriber loss.

1. Starz

According to Forbes, Starz lost the most amount of subscribers among streaming services, losing a total of 840,884 paid subscribers from December 2023 to May 2024. As a result, the company canceled many of its original programming like Heels and Run The World. Starz also separated from its parent company Lionsgate. However, Starz claims that it is one of the only profitable streaming services and that membership numbers fluctuate due to outside factors. Ultimately though, the loss of subscribers has had a negative impact on the service.

2. Apple TV

While Apple TV is known for producing some of the best content, the platform is still losing subscribers. After spending $20 billion on shows and movies since it launched, Apple TV still lost 528,285 paid subscribers from December 2023 to May 2024. According to a Bloomberg report, Apple is planning to cut back on its massive TV spending, leaving consumers with less content.

3. Disney+

While Disney+ and Hulu were profitable in 2023, Disney has said that the production company is scaling back on its movie production and focusing on quality. The streaming service Disney+ lost 294,956 paid subscribers from December 2023 to May 2024. Disney+ costs $9.99 per month for the Basic plan, and $15.99 per month or $159.99 per year for the ad-free Premium plan. These steep costs may be making subscribers think twice.

4. Hulu

In the same period of December 2023 to May 2024, Hulu lost 504,426 paid subscribers. As of last February, Hulu cracked down on password sharing which may account for some of the loss of subscribers. Some users on Reddit have voiced frustrations about excessive ads and the platform’s limited movie selection.

5. Netflix

Netflix losing subscribers
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In 2023, Netflix price hikes and a crackdown on sharing accounts led to many subscribers canceling the streaming service. A recent study by TransUnion found that Millennials are especially intolerant of rising rates, with 53% saying they’ve given up a service after a price jump. Many consumers aren’t a fan of Netflix’s ad-supported tier for $6.99 as opposed to the ad-free tier which is $15.49 a month.

The Race for Subscribers

Ultimately, retaining subscribers is a challenging task for streaming services. Many streaming platforms churn and burn subscribers after sign-up promotions end, or prices increase. As platforms lose subscribers, they typically cut back on content. Customers then drop the service due to lack of content creating a vicious cycle.

Which streaming services do you subscribe to? Are there any subscriptions you have cut this year? Let us know in the comments.

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