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Quitclaim deeds show up commonly in fraudulent real estate transactions. This type of deed fraud can impact elderly people, buyers purchasing real estate from strangers without warranty, renters who are paying someone who is not a legitimate owner, and anyone…
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What Is a Quiet Title Action?
A quiet title action is a special legal proceeding to determine rightful, legal property ownership. It is often a preventative or “friendly” lawsuit to ensure that no other parties have conflicting claims to a title, or to resolve an ambiguity. Depending on state…
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Disclaiming an Interest in an Inherited Timeshare
Through a timeshare, multiple people can share the use of property—typically a hotel suite or a resort condo. The concept is to enable everyone in a group to (collectively, but at different times) enjoy a property for an annual getaway—without…
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Adding Someone to Your Real Estate Deed? Know the Risks.
It’s your home. You might wish to add another person—perhaps an intimate friend or a family member. Doing this is a relatively simple action. And you have the right to do it. Still, be sure to consider the unintended consequences.…
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An Error in the Legal Description of the Deed: What Happens Now?
What can the buyer do when a real estate deed carries an incorrect legal description of the property? Perhaps it describes the wrong parcel, or fails to reflect all land purchased in the sale. An error in a legal description of a property…
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The Quitclaim Deed’s Function in a Contract for Deed Sale
A contract for deed sale can present a convenient alternative to the traditional real estate conveyance. In this owner-financed deal, the buyer usually lives on the property upon the execution of the contract. While enjoying the property, the buyer pays for it in monthly…
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What is a Life Estate?
You may know of someone with “life rights” to a property. They are known as life tenants, and the persons involved have the right to occupy and use their property for the rest of their lives. This is known as…
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The Real Estate Deal, Decluttered: Blockchain and Deed Recording
Throughout the past decade, blockchain technology has evolved from an upstart concept to early adoption in banking and a host of other industries. Many people are eager to learn about blockchain and how it can change the way we do business.…
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Understanding the Deed in Lieu of Foreclosure Process
Losing a home to foreclosure is devastating, no matter the circumstances. To avoid the actual foreclosure process, the homeowner may opt to use a deed in lieu of foreclosure, also known as a mortgage release. In simplest terms, a deed…
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MyDec to be Required for All Cook County Illinois Real Estate Conveyances
Effective January 21, 2019, prior to recording, all Cook County property conveyance instruments must be accompanied by an electronically-completed Cook County Real Estate Transfer Tax Declaration, aka, a “MyDec,” which can be completed via the Illinois Department of Revenue’s MyDec…
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Name Changes and the Real Estate Deed
If you have an interest in a piece of real estate, your ownership is reflected by your name on the deed. There are all sorts of reasons, short of a sale or purchase, requiring a name change on a real…
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A Reunified Estate: Bringing the Mineral and Surface Rights Back Together for Real Property
When purchasing real estate, it is common for surface rights to convey to the buyer. But there are also subsurface rights, such as gas, oil, and mineral rights, that do not always transfer. For any buyer in a real estate…
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What is a Contract for Deed?
If you’ve been turned down for a home loan from a traditional mortgage lender, don’t despair. You have options, and one of them may be a contract for deed. Also known as an installment agreement or land contract, a contract…
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Probate Creditors’ Rights Under Texas Law
Paying off the decedent’s debts is one of the primary duties of an estate’s executor or administrator. Failing to do this can lead to personal liability on the executor or administrator’s part. The estate’s creditors have rights under Texas probate…
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California Mechanic’s Lien Process
Most real estate owners will, at some point, use a contractor to build or improve upon their property. This is generally a straightforward process wherein the contractor arranges the project according to the terms of the contract, and sees it…
