Tag: Property Transfer
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Quitclaim Deeds, Gift Deeds, and Transfer on Death Deeds
Transferring real property between family members is one of the most common estate planning activities in the United States. Whether parents want to pass a family home to adult children, siblings need to resolve inherited property ownership, or grandparents wish to gift vacation property to the next generation, understanding the available deed options is essential…
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Consider This Before Creating a Life Estate Deed
Say you decide you’d like to stay in your home for life. After all, with the costs for assisted living going through the roof, holding your deed might be the best senior living plan! You can certainly draw up a life estate deed, and convey your property into a co-ownership with someone — a friend,…
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Questions and Answers: Quitclaimed Property With Unpaid Taxes
As you might imagine, an unpaid property tax debt does survive a transfer by quitclaim. Transferring ownership to a family member, to a company, or to any other party can be done even with a tax balance attached to the property. The transfer will not remove a tax lien. The lien runs with the title…
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Q&A: Cash Offers and Quitclaim Deeds
Quitclaim deeds are typically used within families, between spouses or ex-spouses, or from individual owners into businesses. A quitclaim is a useful tool to transfer real estate when no payment’s expected. What we rarely talk about is a quitclaim combined with a cash transaction. There may be times, though, when a quitclaim and cash come…
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Skipped Probate? “Muniment of Title” Might Restore the Deed
Sometimes, when people’s rights to a deed collide, muniment of title can restore the deed to one of them. And sometimes, this process is used on purpose, to streamline probate. Let’s take a look at this strange phrase that can be well worth knowing about.
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Transferring Property to Family: What to Know About Gift Deeds
A gift deed signifies a voluntarily title transfer from a “grantor” (the giver) to a “grantee” (recipient). Recipients are often loved ones or charities. A home’s transfer through a gift deed happens without consideration — meaning no money or thing of value is given in return. The deed states that the title is conveyed for…
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When Do You Need a Warranty Deed?
Sometimes it’s best to use a warranty deed to transfer property. It’s common whenever there’s a seller and buyer who didn’t know each other before their deal. In fact, a mortgage lender or insurance company could insist on a transfer by warranty deed. But why? A warranty deed transfers a title with certain protections. This…
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Can My Name Be Added to a Deed Without My Consent?
As a general matter, no. A deed transfer is not valid unless it’s delivered and accepted. A deed holder who is leaving a home to a beneficiary needs to talk with that beneficiary, and other loved ones. They should know what to expect for the deeds’ future. They should understand the reason the home is…
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Whether You’re Selling or Buying: How the Deed Works
Whether you’re about to receive the deed to your first home, or could use a refresher on all things deed-related, we’ve got you covered. A deed is a legal document (also called a legal instrument) that serves to transfer a real estate title from a current owner to a new owner. That is, the deed…
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Florida’s Highlands County Introduces New Ordinance for Real Estate Transactions with Roadway Verification Requirement
In a recent update from the Highlands County Board of County Commissioners, a new ordinance (No. 22-23-23) has been established that directly impacts real estate transactions within Highlands County, Florida. This article aims to provide an informative overview of this ordinance, its requirements, and its implications for property transfers in the area.
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I Deeded My Property to Someone Else. Can I Revoke My Gift?
Giver’s regret isn’t unusual. A desire to void the gift of a home after transferring the deed could happen for various reasons. Perhaps you recovered from a serious illness and could really use that home after all. Or maybe your tax expert told you that letting someone wait to inherit your home would be better…
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Can I Quitclaim My House Into a Living Trust?
We’re glad you asked. You might have heard that a living trust can… All of the above are reasons many people use this method of passing their property along after they die. And a home is a typical piece of property that people put into a living trust. Importantly, a living trust is a…
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Marriage and the Quitclaim Deed
When is a quitclaim a good way to transfer a whole or partial interest in a home? In a simple transaction among familiar parties. Especially where no money changes hands. No wonder quitclaim deeds are often used between spouses. Here, we take a look at a variety of ways quitclaims can convey property between partners…
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Using a Quitclaim Deed: Top 5 Reasons
Are you considering using a quitclaim deed? It’s a fast, simple, and reasonable way to transfer home ownership. It’s a good choice in certain situations. What are those certain situations? In contrast to warranty deeds, which are most often used in regular home sales, a quitclaim would more likely be used: Quitclaiming is a simple,…
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Is a Quitclaim Deed Subject to Tax?
Quitclaims are sometimes used to transfer property interests from one family member to another, or between divorcing spouses. Parents might wonder if they should use quitclaims to pass property to children to avoid the probate process. It’s easy enough to do. The homeowner signs the document with a notary, takes it to the county recorder…
