When someone has a leasehold, they own the home for a fixed term, but not the property that it sits on, and a freehold describes a person owning the home and the land it is on. With a freehold, there is no term on how long the person can own the property.
Both a leasehold and a freehold are common types of legal home ownership in British commonwealth countries, specifically Wales and England. Many people prefer a freehold because this means that they own the total property and they do not have to worry about paying any annual ground rent. Most people sell whole houses this way.Learn More
Direct deposit works by having one account, often an employer, send a payment directly to another account through electronic means. In order for this to work, the depositing account must have the routing number and account number of the account receiving the deposit.Full Answer >
Western Union Quick Collect comes with the option for tracking. Consumers are given a tracking number known as the MTCN, and it can be used to track a payment. Quick Collect focuses on payments for utilities, mortgages, vehicles and credit cards, as well as other expenses.Full Answer >
A quitclaim deed is a legal document that passes property from one person or estate to another. Unlike other forms of property transfer, a quitclaim deed does not provide a guarantee that the title is clear.Full Answer >
It may take a check a few business days to clear, depending upon how long it takes the payee to deposit the check and how long it takes the payor's bank to process and remove the funds from the account. A check is considering outstanding until it is cleared.Full Answer >