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Author: Federal Title

TOPA requirements for closing

Written by Federal Title on .

In addition to providing Federal Title & Escrow Company with evidence of proper and timely notices to tenant(s) in accordance with Title IV of D.C. Law 3-86, "RENTAL HOUSING CONVERSION AND SALE ACT OF 1980 (a.k.a. TOPA)," Federal Title...

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DC landlord / tenant information

Written by Federal Title on .

Under the Rental Housing Conversion and Sales Act (hereinafter the "Act"), [1] District of Columbia residential tenants have unusual rights.Unlike other jurisdictions, before an owner of a housing accommodation [2] may sell the accommodation,...

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Exclusion rules of home sales

Written by Federal Title on .

In 1997 Congress enacted the law which states if you own and live in your home for two years, you can take an exclusion of up to $250,000 ($500,000 for a married couple filing jointly) for the old "replacement residence" rules. Unlike the...

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Dual agency

Written by Federal Title on .

There is a lot of confusion about Dual Agency, who can represent whom, what arrangements are legal, what paperwork needs to be completed etc. Keep in mind that Maryland requires full agency disclosure while DC and Virginia only encourage...

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Homeowners insurance for condos

Written by Federal Title on .

When it comes to insuring a condo, the rules are a little different since the homebuyer is sharing walls, ceilings, floors etc. Be sure your homebuyer realizes the "Master Policy" the condominium association provides probably does not cover...

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