Ask Standard Legal

Entries from February 2009

If I Own a Home in Foreclosure and Wish to File Bankruptcy, Must I Stay in that Home to File?

There is no obligation under federal bankruptcy law to remain in a home you own in order to file bankruptcy, whether that home is in foreclosure or not.  You are permitted to move to a different jurisdiction and file your bankruptcy case there. You may also move to a different residence within the same Bankruptcy Court jurisdiction. [ Read More… → ]

Tags: Bankruptcy Questions  ·  February 26th, 2009

How is a Mortgage Handled when a Quitclaim Deed is Used to Transfer Property Ownership?

Property can be transferred by way of Quitclaim Deed to another person, regardless of whether one or more mortgages exist on the property.  However, there are several issues of which the both the Grantor (the person selling or transferring the property) and the Grantee (the buyer or person taking title to the property) must be aware. [ Read More… → ]

Tags: Quitclaim and Warranty Deed Questions  ·  February 25th, 2009

What are the Signature and Witness Requirements for a Promissory Note?

Any “disinterested person” (i.e. any person not a party to the Note) can be a witness to the signing of a Promissory Note. [ Read More… → ]

Tags: Promissory Note Questions  ·  February 18th, 2009

If I Have Power of Attorney, How Do I Sign Legal Documents on Behalf of My Grantor?

If you have been named as “Attorney in Fact” by the Grantor of a Power of Attorney, you should sign YOUR OWN NAME, followed by the words “Power of Attorney.” [ Read More… → ]

Tags: Power of Attorney Questions  ·  February 18th, 2009

Can a Potential Future Legal Settlement be Covered by a Prenup?

Yes! As long as the couple is not yet married and the future spouse makes full disclosure of the information to the other party in advance, a Pre-nuptial Agreement could cover a financial settlement that may (or may not) come in the future. [ Read More… → ]

Tags: Premarital Agreement Questions  ·  February 5th, 2009

Do Full Disclosure of Assets in a Premarital Agreement Need to be in Writing?

“Full disclosure” in a prenuptial agreement is just that – a complete listing and description of one’s assets and liabilities, shown or provided to the other party so that they are fully aware of the financial condition of the other party.

Standard Legal believes that to be binding, such agreement must be in writing.  Absent such writing, it would be difficult to determine how one could prove that “full disclosure” was made. [ Read More… → ]

Tags: Premarital Agreement Questions  ·  February 5th, 2009

Can I Get Account Balance Information from the Executor of an Estate I Will Inherit?

Once a Will is pending in probate court, there are procedures in place that allow recipients to petition the probate court to review the conduct of the executor appointed to oversee the handling of the estate. [ Read More… → ]

Tags: Last Will and Testament Questions  ·  February 5th, 2009