The latest on real estate recordings and new technology from the Middlesex North Registry of Deeds in Lowell
I was on the road yesterday, so we’re doubling up our blog postings for today.
Land Court Chief Justice Karyn Scheier and Chief Title Examiner Edmund Williams recently met with the Massachusetts Registers of Deeds Association to provide a preview of several policy memos that will be forthcoming from the court and a review of some existing policies. This entry will review what was said about homesteads. Two years ago the Land Court announced that multiple owners of property would be permitted to file separate declarations of homestead with two exceptions: married couples and property held in trust. A married couple who held property as tenants by the entirety are only allowed to file a single homestead with a minor caveat. If one spouse has already filed a declaration of homestead and the non-declaring spouse then turns 62, that spouse may file an Elderly and Disabled Homestead in addition to the original one. If the sequence of recording changed, however, so would the result. In other words, if the first spouse to record a declaration of homestead records the Elderly and Disabled version, than the “non-elderly” spouse would not then be permitted to file a regular homestead. The second homestead situation discussed involved property held in trust. Land Court still adheres to the rule that trust property may not be the subject of a declaration of homestead. A possible way around this rule would be for an individual owner who was about to convey property into the trust could reserve a homestead estate to himself in the deed which conveyed the property into the trust. There was a theory that a person living in property that was held in trust could file a Declaration of Homestead on his right of occupancy of the property (as opposed to any ownership interest in the real estate), but this theory has fallen out of favor and this method of recording a homestead is no longer allowed. Please check back tomorrow for more information from Land Court.
Two years ago when Google paid $1.65 million for YouTube I thought…are they crazy. First, I had no idea how significant and popular YouTube would become. Why do I say significant? Consider this…if you missed the Tina Fey/ Sarah Palin Saturday Night Live skits, all you have to do is simply log into YouTube and they are there for your viewing, when you want, and as often as you want. Essential YouTube makes video available “on demand”. Google’s investment in YouTube has paid off with huge advertising revenue. Just image, the video-sharing site attracts an incredible 100 million people a month. Now Google has decided to begin what is called “hotspotting”. Here is how it works…you are watching a YouTube music video. You love the song and want to buy it. Just move your mouse to YouTube’s new “click to buy” button…click it and bam, the song from the video begins to download. With Google’s $1.65 million dollar investment, hotspotting music may be just the right thing to finally bring YouTube into profit.
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