Parker, Pollard, Wilton, and Peaden - Attorneys at Law

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U.S. Government Simplifies Real Estate Forms for Consumer Protection

  Anyone who bought real estate prior to August 1, 2015 may recall the legal-sized HUD-1 settlement statement presented at closing. That form has been replaced by the TRID ”Closing Disclosure”, which eliminates the need for a separate truth in lending document. The government’s intent is to help consumers better understand their mortgage terms and make comparisons with other potential […]

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Why Do I Need Title Insurance?

Are you thinking about buying a home? Between lender’s fees, mortgage insurance premiums, escrow deposits, and recording taxes, closing costs can total thousands of dollars. Consequently, homebuyers often wonder whether title insurance is an unnecessary expense. For several reasons, we almost always advise our clients that title insurance is not the place to cut corners. […]

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What is a Residential Real Estate Closing?

If you are selling or purchasing real estate in Virginia there are many things you should know before, during, and after the closing (known as settlement). “Closing” and “settlement” are interchangeable terms used to describe the completion of a real estate sales transaction. The goal of every real estate transaction is to “close the deal.” Before […]

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Who is the Trustee in the Deed of Trust?

Most of us do not have enough cash reserves to purchase our home without the assistance of a lender such as a bank or a credit union. If you own real property in Virginia that you purchased by borrowing funds from a lender, then you have most likely signed a document called a deed of […]

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Is Your Loved One’s Will Legally Binding?

In the months after a loved one’s death, procedures and deadlines are far from the minds of the family. Unfortunately however, a death in the family often leads to legal disputes over the deceased’s property. Lean economic times and the increased availability of legal forms on the internet have led more and more people to […]

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Ignition Interlock Devices: Painful Consequences of DUI

In Virginia, all those convicted of DUI must now have an ignition interlock device installed in their vehicle in order to drive on a restricted license, even if it’s a first DUI and there is no evidence of blood alcohol content at all. An ignition is a pain for a number of reasons: it is […]

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Virginia Texting-While-Driving Law

The police can, and will, pull you over for “texting-while-driving.” Texting-while-driving covers the operation of a motor vehicle while manually entering letters/text in a handheld personal communication device as a means of communicating with another person. The term also includes reading any email or text message transmitted to the device or stored within it. For […]

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Power of Attorney and Conservators: Important Planning Tools

A power of attorney enables you to select who it is that you would want to handle your affairs in the event of your incapacity, as opposed to having the court decide this for you.  The primary purpose of a power of attorney is to give one or more persons the legal authority to handle […]

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Divorce: Potential Pitfalls in Equitable Distribution of Property

Equitable distribution is the process by which a court divides a divorcing couple’s property. Many couples look to avoid going to court by negotiating a property settlement agreement, which is a contract where they decide how to divide their property. However, it is important to consider all assets, circumstances and contingencies in such an agreement. […]

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