deed transfer Archives

February 7, 2024April 25, 2024

Behind the Scenes of a Home Purchase: What’s Your Title Company Doing?

You joyfully pick up the keys on closing day, and leave the office triumphant, a thick folder from the title company under your arm.

The title company played a starring role in your day. At least it did if a mortgage is involved! Cash buyers need not hire experts to run a search on the home title, because there’s no lender to protect. But even where buyers pay cash, most people don’t have the time to handle their own title searches.

Thus, most purchases typically involve title companies. A title company provides security and confidence. No new homeowner wants to worry about potential issues or discrepancies in the property’s ownership history.

December 29, 2023April 25, 2024

Added to a Deed: What Are the Tax Consequences?

It’s a common question. You’re going to be added onto someone’s deed. Will you have to declare your new homeownership to the IRS?

An acquisition of real estate is not considered income. But being named on a deed could still implicate taxes. Let’s explore why.

April 7, 2023April 25, 2024

Warning: When Not to Sign Over Your Deed

Transferring the deed to your home is a simple matter. Generally, you just have to find the current deed to your home, then get the right deed form to write up your new deed to convey to another party, and take the document to a notary. Then your signature can be notarized and the deed can be filed.

But it’s best not to rush in. Some homeowners later regret signing over their deeds.

Let’s look at reasons not to transfer deeds too quickly — and how best to proceed when you do.

August 20, 2020April 25, 2024

Buying Property with a Quitclaim Deed in Massachusetts

A Quitclaim? No problem. It’s Common Practice Here — and Safeguarding Your Title Is Straightforward.

Three major Massachusetts real estate deeds are commonly used: the quitclaim deed, the warranty deed, and the release deed. In contrast to most other places, Massachusetts home buyers receive their property through quitclaim deeds. So, we need to delve into the use of the quitclaim deed in Massachusetts.

March 12, 2014April 25, 2024

Quitclaim Deeds and Continuation of Title Insurance

Provided by Matthew A. Quick, Esq., an attorney licensed in the state of Illinois.

Title insurance coverage is dictated by the terms of the policy issued by the title insurance company. In most, if not all, policies for title insurance there is a provision for “Continuation of Coverage” or “Continuation of Insurance.” Typically, this provision provides that the insurance will continue only so long as the insured holds an interest in the land or has liability by reason of warranties given in any transfer of the title.