What You Need to Know When it comes to property ownership, understanding the process of deed transfers is essential. Whether you’re buying, selling, or gifting real estate, the deed transfer process plays a pivotal role in ensuring a smooth transfer of property ownership. In this guide, we will break down Read more
Once a deed has been signed, sealed and delivered, the transfer from the grantor to the grantee takes place. To protect the grantee’s interest in the property, the deed is recorded with the Land Records office. This provides constructive notice that the property has transferred. By recording the deed, another Read more
I was recently married and want to add my new spouse to title, will this be taxed? Whether you were recently married or married fifty years ago, adding or removing a spouse from the title to a property is exempt from Recordation and Transfer taxes. I have a partner and Read more
Transferring real property into a Limited Liability Company (LLC) is a strategic move that offers numerous benefits, particularly for real estate investors and business owners. Here are some key reasons and benefits for considering a Deed transfer to an LLC: Asset Protection One of the primary reasons for transferring real Read more
Transferring real property to a revocable trust offers several compelling benefits that can simplify estate planning, provide privacy, and offer flexibility for property owners. Here are some reasons to consider a Deed transfer to a revocable trust. Avoiding Probate: One of the primary advantages of placing real property in a Read more
In Montgomery County, Maryland, a limited common element (LCE) refers to a portion of the common elements in a condominium that is allocated for the exclusive use of one or more, but fewer than all, of the condominium units. Examples of LCEs include parking spaces or storage units. Conveying a Read more
When transferring property ownership, the type of deed used can significantly impact the level of protection afforded to the buyer. Two common types are the general warranty deed and the special warranty deed. Understanding their differences is crucial for both buyers and sellers. General Warranty Deed A general warranty deed Read more
Adding an adult child to a real property deed is a significant decision with both advantages and disadvantages. Understanding these pros and cons of preparing a deed adding a child is crucial for making an informed choice that aligns with your financial and familial goals. Pros Avoiding Probate: One of Read more
Getting married is a significant life event that often brings about various legal and financial considerations. One crucial aspect that newlyweds should not overlook is revising the deed to any real property they own. Below are some reasons for updating a deed after marriage. Ensuring Legal Co-Ownership When both names Read more
Delays in transferring a deed from an estate to the heirs can result in legal complications. Here are some reasons to promptly prepare a deed transfer from an estate. Avoid Legal Complications Delays in transferring a deed from an estate to the heirs can result in legal complications. The longer Read more