Tag: Legal Advice
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Moving to a Community Property State? Here’s What Couples Should Know
You might have heard that some states, like Texas or California, have community property laws. You might have wondered what that was all about. A few other states follow community property law, too. They are Arizona, Nevada, and New Mexico, along with Louisiana, Idaho, Washington, and Wisconsin. Considering moving to or from any of those…
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Name Order on the Deed: Do You Care?
You might wonder if the order of people’s names on a deed gives the first-named co-owner an advantage over the second-named one. Some first-named deed holders may think, for instance, that they have a greater right to the home. Sometimes, co-owners do hold a property in unequal shares — but that is due to the…
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When a Homeowner Dies, What Happens to the Home?
What happens when a homeowner dies depends on whether there’s a will, the level of debt left behind, and how members of the deceased person’s circle think about others who could be beneficiaries of the estate. Understanding these factors can help a homeowner write a will that works. And if you stand to inherit an…
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Troubleshooting After Divorce: My Name Is Still on My Ex’s Mortgage.
Maybe your ex got your former home through your divorce. And maybe you thought it made sense to let your ex keep the loan — after all, the interest rate on it is great! And those are your kids living in the home… why make life harder for them by complicating the status of the…
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Can Working with a Real Estate Attorney Instead of an Agent Save You Money?
A lawyer can guide you through a real estate transaction. A lawyer can prepare (or check) your paperwork, represent you, and advocate for you. A lawyer runs the title searches, ensuring that the seller has a good title to transfer. Real estate attorneys also handle settlements. And yes, using a lawyer rather than a…
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Should I Agree to Put My Partner/Fiancé on the House Deed?
Maybe you’re buying a new home. A home for you and your significant other to live in. Or maybe you already hold a deed, and are thinking of quitclaiming it from your name into both names: you, and your unmarried partner. Perhaps your partner is paying a percentage of the housing costs, and would like…
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You Can Quitclaim Your Home to a Loved One to Skip Probate Costs. Is It Worth It?
A quitclaim deed easily, quickly transfers your home’s title. You can use a quitclaim to give a home to someone else, with no expectation of a payment from the recipient. Some people use quitclaims to pass homes to their family members. So, is this a good way to carry out your wishes yourself — a…
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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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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…
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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.
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Divorce, Property Division, and the Quitclaim Deed
Parting of the Ways Co-ownership of a house can unwind in several ways. One way is through divorce proceedings. You might be wondering how this works, and what kind of decisions have to be made. You might have questions about passing the home to your ex using a quitclaim deed. Here are some of the…
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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…
