The information you provide must be accurately described when recording in the public records and the steps you take must be done properly. Therefore, it is essential that you select the right kind of deed for transferring your property.
The seller (grantor) and the buyer (grantee) can be individuals, corporations, or other entities. The appropriate description is accurately detailed in the deed document. The grantor must meet legal requirements, which vary from area to area. The typical requirements are that the person is competent to make the deal. Also, the deed must be signed by the grantor.
You do not need to hire a lawyer to help you through the steps of conveying real property. All the tiny details can confound you if you try to do it on your own without the proper form. Sometimes there are nuances such as joint tenants with rights or tenants in common. These might sound like the same thing but they are not. Then there are variations such as rights of survivorship.
A deed in lieu of foreclosure is used for circumstances where the grantor is on the brink of losing his or her property in bankruptcy and chooses to deed the property to a grantee instead of having it foreclosed upon.
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