If a person’s name appears on the Deed of a property but not on the Mortgage against that property, there is the potential for financial loss — but not responsibility.
The timing of the ownership interests in a piece of real estate property are very much different when comparing a Survivorship Deed to a Transfer on Death Deed.
Because a Notary is required to change the Deed during a For Sale by Owner sale, the timing of signing can get a bit tricky.
If a property’s Deed includes the names of persons who are no longer living, and assuming that there are no rights of survivorship language listed within the current deed, a Probate Estate may need to be opened with the local probate court.
Dower Right states and Community Property states do indeed treat Deeds differently. Let’s examine how.
As long as the Notary properly notarizes the Deed in the state in which the Deed is signed, the notary process does not have to occur or take place in the state where the property itself is located.
Under a Joint Tenancy Deed with Survivorship, when one of the listed owners on the Deed dies and the surviving owner wishes to add a new person to the Deed, the process of transferring the property depends upon state laws.
Exactly what steps can a married couple take to avoid Probate on their real estate property when creating their Last Will and Testament? And does living in a Community Property state affect those steps?
The short answer is one is just numbers (or numbers and a couple of letters), the other is a more descriptive ‘sentence’.
Using a Quitclaim Deed, the property owner looking to add another person to a Deed should be named as both Grantor and Grantee.