real estate law Archives - Page 2 of 3

August 25, 2023April 25, 2024

Trees, Smoking, and Other Neighbor Troubles: What’s a Homeowner to Do?

They say good fences make good neighbors. Perhaps we could add shrubs or trees, too. Fences and trees can helpfully separate one residential property from the next. Their presence can make boundaries obvious and clear-cut.

Then again, their helpfulness depends on how homeowners personally experience them. Hedges or fencing can be poorly placed, making property lines questionable. And they occasionally raise questions about who is responsible for what maintenance, and when.

And these are not the only features that create boundary issues for homeowners. Plus, boundaries don’t stop air quality issues caused by your neighbor’s habits.

Let’s take a look at some frequently cited causes of…neighbor troubles.

September 5, 2022April 25, 2024

Can a Quitclaim Deed Be Undone?

A quitclaim deed transfers real estate to a new owner. A properly completed and recorded quitclaim cannot be undone. Here’s why — and what to do next if there’s a problem with the transfer.

May 11, 2022April 25, 2024

Can I Quitclaim My House Into a Living Trust?

We’re glad you asked. You might have heard that a living trust can…

Have your property bypass the costly, time-consuming probate court process when you die.

Be modified if you change your mind, and even let you put the property back in your own name while you are alive.

Name a successor trustee with the power to pass your property to whomever you designate as the new owner.

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 revocable trust — it’s a trust you control during your life, and can change. Curious as to how it works? Here, we outline the basics of using a living trust to pass a lifetime home along to its future owner(s).

April 16, 2021April 25, 2024

Will Versus Quitclaim: When There’s a Conflict, Who Owns the House?

Usually, the quitclaim deed overrides the instructions in a will. But the devil is in the details.

At age 60, Letitia bought her Sacramento home, as a sole owner. Twenty years later, aged 80, Letitia went into a care home. Letitia subsequently signed a quitclaim deed and gave the home to Jackson, the only one of her three children who was not already a homeowner. Thanks to the modern convenience of remote online notarization, this was simple for Letitia to do.

Some homeowners use quitclaim deeds when the parties know the home’s history and do not expect a title search. See more at: Transferring a Deed Without a Lawyer? Here’s What You Should Know.

At age 84, Letitia passed away, survived by the three children: Jae, Jasper, and Jackson.

Letitia left a will that appears to give 50% of the home’s value to Jackson, with the other half divided equally between the other two siblings. But Jackson is unwilling to give up any interest the home.

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.

July 13, 2020April 25, 2024

Bargain and Sale vs. Quitclaim Deeds: A Concise Guide

Are you looking to buy a home though a bargain and sale deed? Perhaps you’re buying after a foreclosure, or from an estate or a court-ordered sale. If so, the entity granting the deed to you might lack knowledge of the property’s history. Basically, the deed means a buyer is expected to accept the house as-is.

How does this differ from a quitclaim deed? What rights and protections does the bargain and sale deed give you, the new owner? Let’s take a look.

April 26, 2019April 25, 2024

Don’t Quit Your Claim! A Quitclaim Deed Is Not a Mortgage Saving or Estate Planning Tool

A quitclaim deed conveys—”quits”—a person’s interest in a property to someone else. Quitclaims prove useful in certain transfers of properties among family members or between divorcing spouses. The quitclaim allows separating partners to follow a court’s direction and leave one party as sole owner of the marital home. Quitclaims might seem convenient in other circumstances, but they are rarely the best choice.

In contrast to the warranty deed, a quitclaim deed offers no assurances of clear title. In most jurisdictions a recorder of deeds must simply record a quitclaim deed; it is not the recorder’s role to investigate the circumstances of the conveyance.

Scammers may take advantage of the quitclaim’s simplicity to siphon equity from vulnerable people. After recording a quitclaim, a bad actor may sell the property with no guarantees, rent it under false pretenses, or exploit its underlying value as collateral.

Spot the Mortgage Relief Scam

March 12, 2019April 25, 2024

Removing Someone from a Real Estate Deed

Removing someone from a deed—is it possible? The short answer: No.

Misconceptions and Realities

It is a misconception that someone can be “removed” from the deed.

Nor can a co-owner simply take away another party’s interest in a property by executing a new deed without that other party.

In short, no one can be passively removed from a title.

Even if an owner “added” someone else to the real estate deed previously, the first owner cannot reconsider and take the second person off the deed.

Why?

February 7, 2019April 25, 2024

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 installments, until the agreed-upon price has been paid in full.

Down the road, when full payment is complete, the purchaser formally acquires the title deed. This event occurs through a warranty deed, which guarantees that the seller is the sole party with any claim on the property to be conveyed – no exceptions, unless stated on the deed.

If things don’t go as planned, and the buyer defaults, recovery of the property can be a time-consuming process. Defaults happen, so a seller should consider having the buyer sign a quitclaim deed as part of the execution of the contract. A quitclaim is a non-warranty deed. It conveys property with no warranty for the title. Through this document, if it becomes needed, the buyer will relinquish any claim on the property.

Here, we look at how the contract for deed sale works, and briefly examine the function of the quitclaim deed.

October 5, 2015May 14, 2024

What is a Special Warranty Deed?

If you’re like most people planning to make a real estate purchase, you want to know that the property you’re purchasing is actually owned by the seller, that it’s in reasonably good shape, and that the title is free of defects. Real estate transactions aren’t always as seamless or clean as buyers might like, though. A special warranty deed—sometimes referred to as a limited warranty deed—warrants only against defects during the seller’s time as property owner. It will not protect against title issues that arose prior to the time the seller took occupancy. Consequently, it offers less protection to buyers, and more protection to sellers, than a general warranty deed, which is the most common option for selling or buying a property.