Documentary Transfer Tax (AB 1888)
Effective January 1, 2015, pursuant to Assembly Bill 1888, all California County Registrar/Recorder/County Clerk’s Offices will require that “EVERY document subject to tax that is submitted for recordation shall show on the face of the document the amount of tax due and the incorporated or unincorporated location of the lands, tenements, or other realty described in the document” before acceptance for recording.
Continue reading “California Now Requires Real Estate Deeds that are Subject to Transfer Tax Show the Tax Amount on the Face of the Deed”
As of January 1st, 2015 there is a new requirement for notary acknowledgements on real estate deeds in California.
A certificate of acknowledgment taken within California shall be in the following form:
Continue reading “New California Requirements for Notary Acknowledgements on Real Estate Deeds”
Ohio Revised Code 5302.23(B)(5) contains the rules for revoking a recorded transfer on death designation affidavit. In short, it states that the owner of real estate previously identified as a transfer on death interest may revoke or change a beneficiary designation at any time before the owner’s death, without the consent of that transfer on death beneficiary. Simply execute and record a new transfer on death designation affidavit, including all information from the prior form, but stating the revocation or change where appropriate.
Continue reading “Revoking a Transfer on Death Designation Affidavit in Ohio”
In Texas, a correction deed is the deed issued to make
changes to an erroneous deed. These two instruments are closely linked, and all
corrections are effective as of the date of the original recorded instrument
(Property Code Sec. 5.030).
Continue reading “Filing a corrected deed in Texas (even if the title company has closed)”
Depending on the circumstances, inheriting real estate can be a blessing or a curse. If the beneficiary is considering how to handle an inherited house or other property, it’s worth including a disclaimer among the possible options.
Continue reading “Why Disclaim an Interest in Real Estate?”
Errors in a deed may create uncertainty about the title and cause problems when the current owner tries to transfer the property at a later point. Executing and recording a correction document is an easy way to prevent this.
Continue reading “Correcting an Error in a Recorded Real Estate Document”
The Nebraska Uniform Real Property Transfer on Death Act is found at Sections 76-3401 to 76-3423 of the Nebraska Revised Statutes. This useful law provides an option for land owners to convey their real estate after their death, but without the need to include it in a will.
A transfer on death deed (TODD), when lawfully executed, allows property owners to retain absolute title to and control over their land during their lives ( 76-3414). The deeds are also revocable (76-3413). In part, these features are possible because unlike traditional deeds (warranty deeds, quitclaim deeds, etc.), TODDs do not require consideration from or notice to the beneficiary ( 76-3411).
Continue reading “Nebraska Statutory Transfer on Death Deed Options”
Georgia’s House of Representatives has unanimously passed a
bill cracking down on people who steal houses by recording fraudulent real
estate deeds. The bill was sponsored by Rep. Tom Kirby and co-sponsored by Rep.
Ed Lindsey. House Bill 985 would protect all Georgia homeowners from those who
file fake deeds. The bill also makes filing, signing or witnessing those deeds
Continue reading “Georgia Bill Making Filing Fraudulent Deeds a Felony”
Transfer on death deeds (“TODs”) are used to convey property rights to one or more beneficiaries after the owner dies. Unlike most other assets in an estate, property conveyed in a transfer upon death is not subject to probate distribution. In addition, as nontestamentary instruments, these conveyances are not affected by provisions of the deceased owner’s will. Ohio’s transfer on death instruments are governed by R.C. 5302.22, and were originally introduced as transfer on death deeds in 2002. Revised to the current format of transfer on death designation affidavits in 2009, these documents, when lawfully executed and recorded, provide a flexible and convenient estate planning tool for owners of Ohio real property.
Continue reading “Dower, Joint Tenancy, and Ohio’s Transfer on Death Instruments”
The Nevada statutes identify three primary ways for
two or more people to hold title to real property: tenancy in common, community
property, and joint tenancy (NRS §§
Continue reading “Vesting options for Co-Ownership of Nevada Real Estate”