There’s a lot of excitement that comes with buying or selling a home. You may be moving for the house of your dreams, for a new and better job, to get your children in a top-rated school or for many other wonderful reasons. The newness and change of the situation will keep you excited for what’s next rather than concerning yourself with what was.
With all these good things happening, you need to ensure that you don’t allow a disappointment to spring up by being unprepared. One key way to protect yourself is to take care of the deed preparation process. First, let’s understand what a deed is by reading the following post:
What is a Deed?
A deed is a written instrument which transfers an interest, right or property from one person or entity to another.
The person or entity transferring title is known as the ‘Grantor’ and the person or entity receiving title is known as the ‘Grantee.’
The deed must contain certain information, such as identifying information of the ‘Grantor’ and ‘Grantee’, consideration, and a legal description of the real property. A deed must be signed by the ‘Grantor’. After the deed has been drafted and reviewed, it must be recorded in the land records of the county in which the property lies. Many states have special requirements in order to record a deed, such as recording fees and applicable transfer taxes. Read more at Hawk Law…
You’ll need to get an accurate, secure deed that has been expertly prepared to avoid any issues in the future.
Even after you have the deed, any changes made to it must be handled the right way. The following list highlights some of these concerns that should be settled carefully:
- Adding another person’s name to the title of the deed
- Removing a party from a title deed, thus removing that person as an owner
- Conveying real estate in to (or out of) a revocable living trust or LLC
- Changing the way real estate is owned (such as owning a property as joint tenants with rights of survivorship instead of tenants in common)
- Changing a deed before or after a divorce
- Borrowing money against a deed, creating security interests, or creating a mortgagor/mortgagee relationship, such as in the creation of a deed of trust
- Setting up a beneficiary deed to state who will inherit property upon the owner’s death and to keep the property out of probate Read more at Affordable Legal Services LLC…
As you can see, it’s crucial that anything related to your deed must be expertly handled. Failing to do so could lead to huge complications and a great deal of stress for you and/or your loved ones.
The following post relates the challenges one family faced because they didn’t get proper guidance on a deed:
Real Property Deed Transfers Can Be Complicated
There are several different types of transfer deeds to real property, along with several different ways people can hold the title to real property. It is important that the party making the transfer has a clear understanding of these differences to ensure the transfer will carry out the real intent of the parties.
Unfortunately, when a deed that transfers ownership has been incorrectly prepared, the effect can be devastating and expensive.
A person recently came into the office after the death of both her parents. Sometime during her parent’s marriage, they had prepared a new deed adding the daughter’s name to the property. Their intent was that, upon their deaths, their real property ownership would automatically transfer to the daughter without having to go through probate or another complicated proceeding… Read more at A People’s Choice…
To avoid any complications or unwanted court actions, you need to work with a lawyer who is experienced in deed preparation. Attorney Jonathan Meek has the education and experience to ensure your deed preparation is rock solid. For more information on deed preparation, visit the website of Meek Law Firm South. Then, call (704) 800-5901 to discuss the specifics of your situation. We look forward to assisting you.