If payments are missed on a loan that is secured by a mortgage, the lender secured for the mortgage can file a foreclosure action. But the language of the title and the mortgage documents are critical to how the lender may proceed. [ Read More... →]
Quitclaim and Warranty Deed Questions
If a Home is Owned Jointly and One Person Takes Out a Mortgage That Goes Unpaid, Can the Lender Foreclose on the Entire House?
No one can sign any legal document on behalf a deceased person. [ Read More... →]
Quitclaim and Warranty Deed Questions · January 8th, 2014
If a Living Trust document allows the property it holds to be distributed to the heirs following the death of the donors, the Trustee named in the Trust would simply execute a Quitclaim Deed transferring title of the property from the Trust to the beneficiary or beneficiaries named in the Trust. [ Read More... →]
While some states have buyer remorse laws, but there are no ‘seller’s remorse’ statutes. [ Read More... →]
A potential buyer or a new owner of a property — be it short sale or standard purchase — must honor an existing lease agreement unless that lease agreement specifically contains a provision for the termination of the lease in the case of sale. [ Read More... →]
In most states, a Probate Estate would need to be opened so that the probate court could issue an order transferring title to the sole beneficiaries’ name.
Most states have an expedited or summary process if the assets to be probated are limited.
If a Term Within the Real Estate Sales Agreement is Not Included Within the Deed, Which is Enforced?
This is a complicated legal question, and one that is est answered by an examination of a state’s specific laws. [ Read More... →]
Typically a mortgage and a Deed are handled as separate but related entities in the matter of refinancing. [ Read More... →]
Quitclaim and Warranty Deed Questions · February 26th, 2013
If Multiple Persons Own a Property and One Does Not Wish to Sell, Can the Majority Vote to Sell Anyway?
Absent an agreement amongst all of the owners, a “majority vote” cannot compel the sale of a person’s ownership interest in a property against his or her will.
But there is another option available to move the process forward for all parties. [ Read More... →]
On a Deed Listing My Deceased Father or Myself as Owners, Can I Use the Death Certificate to Revise and Add My Grandson?
Based solely on the information provided, it is difficult to determine how title to the real estate was owned, or how it can be transferred going forward.
Specifically, the “or” language may be at issue. [ Read More... →]
Quitclaim and Warranty Deed Questions · January 16th, 2013
If I Quitclaimed Our House to My Ex-Husband in Divorce, and He Just Died Without a Will, is the Quitclaim Deed Void?
Properly signed and notarized Quitclaim Deeds are generally unaffected by death. [ Read More... →]
If Our House Was Taken In Lieu of Foreclosure, Do We List the Mortgage as an Unsecured Debt in a Bankruptcy Filing?
When a foreclosure occurs because a loan is in default, the foreclosure lawsuit and ultimate sheriff’s sale “strips” the mortgage(s) from the property, either by paying it off in full or part from the sale proceeds (or in the case of second and third mortgages, by paying a percentage or perhaps none at all).
This is done so that any new purchaser of the property can take ownership free and clear without any encumbrances. [ Read More... →]
If My Deceased Son’s Wife Left His Children to Remarry, How Can I Remove Her from the Deed to My Estate and Leave Property Only to His Children?
Simply re-draft the Deed to include the names of the three children of the deceased son as Grantees, omitting the name of your child’s ex-spouse. [ Read More... →]
Quitclaim and Warranty Deed Questions · November 15th, 2012
If the language of a Quitclaim Deed indicates that a right-of-way is being transferred to a Grantee — and the deed does not reserve for the Grantor any right to use the land or cause the Grantor to retain some ownership interest in the right-of-way — then the right-of-way becomes the property of the Grantee upon the filing of the Quitclaim Deed.
Quitclaim and Warranty Deed Questions · November 7th, 2012
If My Husband and I Own Real Estate in a Partnership with Others and I Want Out, Can We Simply Create a Quitclaim Deed?
A completed Quitclaim Deed signed by all of the listed owners of the current deed could certainly be used to transfer the property ownership as desired.
But transferring the property ownership from both spouses to one would not necessarily change the nature of the ownership within the Partnership. [ Read More... →]
Can I Sell a Property by Quitclaim Deed if One of the Currently Listed Owners is My Estranged Minor Son?
Completing a property sale using a Quitclaim Deed when one of the listed owners of that property is a minor who is not living in the parent’s home is a complicated issue with several variables.
The first issue is the minor’s ability to enter into a binding contract (i.e. the transfer of the property to a third party), as such contracts are voidable by the minor due to his age. But there are additional considerations and potential solutions. [ Read More... →]
Quitclaim and Warranty Deed Questions · October 26th, 2012
Is There a Set Time Limit in Which an Executed Deed Must Be Provided After the Completion of Payments on a Land Contract?
The vast majority of states have no firm set time period or “grace period” for requiring the tender of a Deed for real property upon the completion of payments on a private mortage. [ Read More... →]
So long as the contract is properly written, a provision providing that the buyer will sign a Deed to avoid having the seller go through a foreclosure process to reclaim title to the property would be enforceable. [ Read More... →]
Such language indicates that the grantor is married and, as such, his spouse may have certain dower rights in the property. [ Read More... →]
Title insurance will cover only those issues specifically set forth in the title insurance policy. Most policies have a significant number of exceptions to coverage, so there is no standard answer to this inquiry. You must read the policy in question.
Quitclaim and Warranty Deed Questions · August 22nd, 2012