Tag: transfer tax
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Elements of a Deed: What Is Consideration?
Consideration is the legal term used to describe the money or other thing of value exchanged for the title to a home in a real estate sale. A legally valid contract must have mutual consideration. That is, something that has value must be exchanged by each party. The things exchanged can be a promise of…
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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.
