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Quick Guide to Deed Poll

Quick Guide to Deed Poll

A deed poll is a type of legal document that only involves a single person or party, which states a particular intention that such a person is bound to by the document itself. 
A deed pole itself is not a contract due to the fact that only one party is affected by such a legal document and it states only an intention, rather than a guarantee or promise. This kind of document is often times referred to as a deed poll name change because it is very commonly used in order to enact a name change for an individual. 
Change name by deed pole is most commonly used in Europe, particularly in England, Ireland, and Northern Ireland. Other nations such as Hong Kong and New Zealand also use the deed poll name change. Typically speaking, to change name by deed poll will require that a person complete a form, which must be signed by a witness. 
The form is then filed by the appropriate court. In many jurisdictions, deed poll name change may be considered as a legal name change, though change name by deed poll may not necessarily change a person’s name on the birth certificate. Therefore, in the case that a passport is to be obtained, for instance, both the birth certificate and the change name by deed poll document will need to be furnished in order to complete the passport requirements.

Property Deeds at a Glance

Property Deeds at a Glance

Deeds are legal documents that will usually grant a right to person or party, usually in regards to property. In generic terms, a property deed can be said to be a legal document which will grant the ownership and associated rights to particular individual or party. 
Therefore, a property deed can also be used as evidence and proof of ownership in regards to to land and real estate.  A property deed is often times referred to as a title deed, and depending on the provisions contained within, property deeds can also provide the holder of the deed with specific rights and/or privileges, not only only asserting ownership. 
Property deeds are also the documents that are transferred in the sale of property as well, in order to provide for a legal document that will signify such transfer as being legitimate under the consideration of the law. Property deeds, aside for asserting the proper owner of the property, will also provide for description of the property. 
The description is meant to be very specific, so as to avoid any possible confusion and thus, also avoid any potential legal situations. However, it is important to note that even though property deeds are indicative of ownership, the holder may not in fact the owner of the property. This is shown in the example of a person obtaining a loan or mortgage to purchase a home. In such a situation, even though the borrower is inhabiting the home, the bank or lending institution will be the legitimate owner of the home until the loan amount is paid in full. At this time, the property deed will be transferred to borrower, making him/her the true owner. 

Understanding Tax Deed

Understanding Tax Deed

Owning a home or real estate will usually require that the owner pay some sort of taxes, such as home owner’s tax or property taxes. Failure to pay these kinds of taxes can surely bring upon some difficulties for the owner. The government will take measures in order recover the amount of money that is to be owed in terms of taxes, which results in a tax sale. 
A tax sale is a forced sale of the property or real estate that is implemented by the government in attempts to recover the non-payment of taxes. There are two types of tax sales which are the tax lien sale and the tax deed sale. Tax deed sales are usually the most common of the two.
A tax deed sale occurs when to government will sell the property or estate for which back taxes are owed in order to regain the back taxes. The government, however, must abide by certain legal standards which are implemented in order to give the owner of the property the opportunity to pay back the unpaid taxes. This will entail proper notice to the owner, as well as legal action taken in the courts. 
If the owner fails to pay the taxes owed on the property, they may decide to sell the property themselves or legally transfer the rights to the property to another individual or party. However, a tax deed sale can end in the government putting up the property for auction. For real estate investors, tax deed sales can prove to be a great opportunity to acquire real estate at low prices and sale them for a profit. 

Do You Need Some Deed Forms?

Do You Need Some Deed Forms?

A deed is a legal document that is used to grant a right, usually a right to ownership. In the United States, the ways in which the various types of deeds are drafted will have to coincide with both federal and state regulations and guidelines. This also means that a deed may have different requirements in terms of the document itself from state to state. 
However, many deeds will now be available in terms of standardized forms that are provided by the government or a particular agency. The way in which deeds are provided and the form in which they are drafted will depend on the type of deed that is at hand, for not all will require the same provisions or content. 
Obtaining a deed form can be done through various avenues. One of the most popular and innovative ways to do so is by using the internet. There are many companies online that can provide for a standard deed form for the particular kind of deed. In many instances, one can obtain these deed form documents for free. A free contract for deed form can be found online, which will contain a pre-printed form in which the necessary and pertinent information is to be provided by the involved parties.
 An example could be a free contract deed form of lease or mortgage. However, before using such a service, it is important to make sure that the deed form contains all of the necessary information, and thus, will require that a person should be aware of the state and federal statutes in order to avoid any confusion. 

Deed in Lieu

Deed in Lieu

A deed in lieu is usually a shortened term to refer to a deed in lieu of foreclosure. A deed in lieu of foreclosure is an agreement between a homeowner or property owner and the lender, such as mortgage brokerage firm. A deed in lieu will usually entail the real estate owner turning over the deed to the home or property to the lending party in order to avoid or to halt foreclosure proceedings. In other words, a deed in lieu is essentially a legal document that negotiates a way for a homeowner or property owner to avoid foreclosure.
A deed in lieu of foreclosure will usually be a homeowner or property owner’s last resort when facing foreclosure. Typically, engaging in a deed in lieu negotiation will usually have a negative effect on a person’s credit, and thus, making more difficult to manage one’s finances and secure future loans. They way that the deed in lieu works is fairly simple.
The owner gives the deed to the property over to the lender, effectively canceling the debt. However, depending on the negotiations of the deed in lieu, a lender may, for example, include provisions in which the homeowner will have to pay back any amount that was not covered by the property being sold. Furthermore, this could also have negative effect on the homeowner’s credit, for it will be seen as the negotiations not properly settling the debt of the loan.

The Quick Facts on a Deed of Trust

The Quick Facts on a Deed of Trust

 
 A deed of trust is a written legal document that is commonly used in real estate. A trust deed essentially is a record of debt, in which the title of property is transferred to a third party to hold until the loan amount is paid off in full. A trust deed will also function as the document of title in terms of public record. 
 
 
Trust deeds are similar to mortgages in the fact that there is a borrower and lending party. Most states will tend to use the mortgage system for financing homes, though California, for example, will often times use a deed of trust. The main difference between a mortgage and a deed of trust is that there will be a third party involved, often times a title company. 
 
 
The title company is in charge of securing and keeping the trust deed as security for the lending party or company. Once the mortgage or loan is paid in full, the title company will then release the trust deed to the purchaser, and thus, also the title of owner ship of the property. Even though trusts deeds will be in the possession of the trust company, the actual title will still belong to the purchaser, as long as the payments are being made as required and the loan is not in default. The trust company will usually be a silent third party, only taking necessary action when there is a default in the loan. 
 
 
The trust company will be in charge of notifying the borrower regarding the back payments, which are to be made in full. If the notifications will not produce repayment, the lender will then have the authority to sell the property in order to pay off the loan. 

Life Estate Deed Explained

Life Estate Deed Explained

A life state deed is a type of legal document that is used in the United States in regards to the managing of real estate by the owner. Also known as a “lady bird” deed, the life estate deed is used to define the rights of a real estate or property owner stating that such person will have the right to use and/or sell the property until he/she dies. This process also allows for a smoother process when it comes to transferring the property to heirs in the event of the owner’s death, usually because it is effective in avoiding the probate process. 
The life estate deed is a unique type of legal document in the sense that it grants the property owner extended rights. The life estate deed will contain a clause in which it gives the owner the right to sell or transfer the real estate property without needing any consent. In other words, even if the property is meant to be willed to heirs in the event of the owner’s death, the owner will maintain the right to sell or transfer the property at any given time and at his/her choice. 
When considering a life estate deed, it is important to consult with the state or local regulations and laws, for not all states will allow the use of a life estate deed. However, some states that do allow life estate deed procedures are California, Florida, and Texas. 

Is it Easy to Conduct a Deed Search?

Is it Easy to Conduct a Deed Search?

Deeds will contain information regarding various kinds of assets, particularly real estate and property. Deeds can provide for an accurate record in regards to the history of property and even land values. 
A deed search may prove to be valuable tool for many doing research in terms of historical records and similar applications, though a deed search is most commonly used by those seeking to invest in real estate. Because a deed search can provide for a history regarding the various owners that may have at one point owned the property, it can give a potential buyer information regarding the overall history of the home or land. 
Conducting a deed search will require a degree of patience and time, though the results may prove beneficial in terms of making a decision to purchase a piece of land or real estate. A deed search can be done in different ways, though the most common will be to physically go where the local records of the town or city are kept. 
However, an easier approach will be to use the internet, for there are various services available that will conduct a deed search, usually for a fee. Conducting a deed search will usually provide for useful information, particularly in regards to the prices of previous transactions. Furthermore, in some cases, there will be photographs available, which can help provide for a chronological view as to how the property has changed and been maintained over the years. 

A Quick Overview of Grant Deeds

A Quick Overview of Grant Deeds

A grant deed is a legal document that is most commonly used in real estate dealings. The grant deed will allow for the legal transfer of the ownership to title from one party to another. In such case, the parties are defined as the grantor, the party transferring the title, and the grantee, the party receiving the title. When a grant deed is used, it will define that the grantor will be either giving the title or an interest in the property to the grantee, which will carry two particular guarantees. 
The first being that the grantor is the proper owner of the property or real estate that is being transferred, and that there are no other parties that have a stake in ownership or interest in such property. The second is that no other party has a legal right to the property, or a lien placed against it. Upon signing the grant deed, the grantor will give up all rights to the property, any vested interest, and ownership.
Though the two guarantees of grant deed will tend to be universally applied, there may be other variations regarding the contents and provisions of a grant deed. An example may be a jurisdictional requirement to have a proper description of the property that is being transferred. Furthermore, the signing of a grant deed may also require that witnesses be present, normally being a notary public. However, most grant deeds will not necessitate notarization in most states. 

Title Deeds at a Glance

Title Deeds at a Glance

A title deed is a legal document that is usually used as evidence and proof of ownership over property. However, title deeds can be used for other kinds of property, most commonly in the case of vehicles. Aside from ownership, a title deed will also infer certain rights associated with ownership, such as any privileges and conditions of ownership. 
Furthermore, a title deed will usually be needed in the case that property is to be transferred another person or party, in order to properly provide for the transfer of ownership and associated rights.
The information contained within title deeds may prove to be different depending on various factors, particularly in regards to what kind of property it is in reference to. However, there are certain qualities that will usually be found in a title deed, such as a description of the property.
The property must be explicitly and accurately described in such a way that there can be no confusion as to what the property is. Also, the owner of the property will also be named in the title deed. 
Even though the title deed is meant to imply ownership, it will not always be the case. The most common example can be in the case that a person purchases a home with a loan. Even though the this person may inhabit the home, the lending institution or bank will be the actual owner of the property until the loan is paid in full.