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My husband and i purchased our home in1994, 10 years ago we refinanced and i did a interspousal transfer deed. What form do i need to use to add my name back,, house is paid off
I'd consult my husband in tandem with a legal professional - not because you have ownership / marital / financial problems - but to clarify exactly where YOU stand, legally, with the way things are at this moment, regarding the real estate paper trail, deeds, title, ownership. I'm a real estate broker in Calif. Get the facts, ma'am. The rest should fall into place, in a matter of time.
I would like to know what is the best deed to use for transferring a land from one entity to another entity, and it’s paid off also taxes. What is safest way to transfer in California ? Please let me know
my sister and I brought a house together and she want to sell her shares to me. Do i file a quitclaim deed? will quitclaim deed update the Grand deed to our my name or I have to file additional form Grand deed? Regrading the Deed of Trust, when payment paid off, does Deed of Trust be updated to my name and my sister? Do how do i change deed of trust into my name?
First, I advise you to talk to a legal professional for your unique situation. My understanding is Yes, if you are both on title and she wants to "buy you out" and be removed from the title, this can be done with a quitclaim deed (without a grant deed). However, for the loan/deed of trust, you want to be very careful, as a change in title can sometimes trigger the "alienation clause" and the lender can "call the loan" meaning you will have to pay the entire balance. Read the language in your mortgage documents very carefully and talk to a legal professional.
Base rent is usually based on market comparables of properties leased in the area. It's the rent per square foot that a tenant would pay to lease the property/unit, BEFORE the NNN expenses are added on. (NNN expenses can include tax, insurance, maintenance, etc).
It's case by case. Some buyers can buy it 50/50. Some buyers can have other agreements between them where they have a different split (for example, 60/40, 70/30, etc). I will assume that in your situation the two buyers are putting the same amount of money in and buying as "tenants in common" on title, in which case, it is presumed they are equal owners.
Hi !! Me and my husband are about to divorce, we have both moved out of the house. Our oldest daughter is living in the house and paying the mortgage. Can we add her her to the Deed, do we Quit claim deed out. Help!!!
Consult with a real estate legal professional. Key words: Real estate attorney. Quit claiming the deed doesn't take YOU off of the mortgage. It grants someone else title to the property. Which she can sell, if YOU'RE in good standing with the bank. You can lose the home if she doesn't pay on the note, regardless of how title is held. If the note isn't paid, the bank(s) will foreclose on whomever is on the loan, YOU, and evict her. Good luck. I hope this helps.
hi George, Thanks so much for the info! Wanna ask for traditional NNN lease, is the landlord responsible for the post signs of the plaza? If the floor damaged by the roof leaking, will the landlord need to repair it?
Glad it was helpful! (and sorry for the late reply) The landlord and tenant responsibilities will be clearly noted in the lease documents. It's really a case by case situation. But commonly for retail shopping centers, the landlord will pay for the pylon signage and manage the repairs/maintenence, and the tenants will reimburse a portion of that as part of their NNN expenses (which are often referred to as "expense reimbursements"). Regarding the roof leak situation, I would definitely speak with an attorney. If the landlord responsibilities include maintaining the roof maybe there is a case for damages. Again, speak with an attorney.
You Americans should stop putting up with this nonsense and move to Napier, New Zealand. Help us get our film industry going at a much lower cost, enjoy the same type of weather, and don't get charged some ridiculous jealousy tax to fund welfare leaches who want to take their drugs in a city they can't afford to be in.
Thank you George! I'd love to know more about the implications of title insurance on quitclaim deeds? Do title companies respect that policy when you do a quitclaim deed?
If the property is sold to a new owner with an existing Ground Lease, and the Ground Lease has the option to extend the lease for an additional term, does the new owner required to honor the terms of the existing Ground Lease?
For a single property, you can only have one loan or the other (as these will both need to be "first position" loans). However, if you are referencing two separate properties, the answer is yes, you can buy one house with a conventional loan, then buy a second house with an FHA loan.
I have a specific situation. I currently have a co-owner on my title and we're trying to file a Grant Deed to remove the other Party. So would I file the deed as a GIFT to not pay taxes? I have been paying for everything on the house and wouldn't want to pay additional taxes in California. PLEASE HELP
Grant deed or warranty deed would be best for buying a house as it offers the most protections. Quit claim deeds are more for transferring property between family members.
Excellent description on both of them. Question: I notarized a Quitclaim Deed 12 years ago after my divorce (in California). Ex-wfe wanted to be the sole owner of the property in exchange for removal of spousal/child support (by her terms and was stated in the QC Deed). As of 2022 she never recorded that deed and now she wants to refinance the property (property has 4 liens). They sent me a Grant Deed to notarize (it does not state about the child support removal). If I sign this new Deed, the 4 liens will be paid in full? Does the old accord will still be in effect (about child support-both daughters are adults now)?. Thanks in advance to anyone how can clarify this matter.
Hi, My boyfriend and I bought a house 5 years ago, but I was not included in the loan due to lower credit and score. Now we are decided to add my name in the title, so in 6 months approximately do refinance, get the loan, and remove him with a cash out. Do you know what option to select in the PCOR? Also it's this the best option or quit claim? I appreciate a lot you knowledge shared! Blessings!
Grant deed or warranty deed would be best for buying a house as it offers the most protections. Quit claim deeds are more for transferring property between family members.
My grandfather wishes to pass me on two pieces of property in CA. We're both in CA and I can easily have a notary come to his house with me. I contacted a lawyer who wants to set up a meeting and I'm afraid it might get expensive with her. If he just wants to sign over the deed to his property and he's paid all of the taxes up to date, would a Quit Claim Deed be the best and least expensive route? He's still alive has no will and no trust. Please advise. Thanks!
beware gift taxes your grandfather may incur by passing property to you in this way...also look into Transfer On Death Deed and income/property tax advantages
Which Deed should be used for these 2 scenarios: 1) Father and Mother want to add son to Title, for ownership amongst the 3 of them 2) Father and Mother want to be removed from Title, and transfer ownership solely to son
It depends on the state and specific situation, but most of the time both of these can be accomplished with a Quitclaim Deed. I would call a local Title Company or attorney to see which applies to your situation and if any other documents or notices must be filed with it. Also note whether the property is being held as joint tenants, tenants in common, etc. Best of luck!
Hello :) Do you envision a certain type of tenant at your location? You can reach out to developers that are actively building locations for those tenants, franchisees who are active in the area, or brokers who act as "tenant representatives" for the companies that may want to lease it. Sometimes if they like the land they would reach out to you directly.
Hey George, my dad and I are both on the Title on house. Can he use quitclaim deed to transfer to me, so that I will be the only on the Title. Is that possible?
@@georgebaltakianrealestate4189 does it matter if he is my step farther, but he is not marry to my mom. Does it matter if he is still marry to his Ex? Does that mean that she has to sign to? Even if she is not on the Title?
Your FHA loan MIP will involve two payments: an upfront premium and an additional annual payment. The amount you'll pay for both depends on the size of your loan.
Thank you George. Do you have a video about Title insurance? My sister and I are going to transfer a house to my two brothers. I have the Title Insurance before my Revocable trust. Are there will be a problem upon transferring the property?
All of the above. But also they are used in different scenarios. For example, if two people are on title, one of them can be removed using a quitclaim deed. However, if a new owner (not previously on title) will be added or the property will be transferred to new ownership, a grant deed should be used.
A gross lease would maximize your base rent, but you would be responsible for paying all the operating costs like insurance, maintenance, and property taxes. Percentage rent can add additional income, but it is not common for every type of tenant/property, so it may not apply in your situation. Every property/situation is unique so run your numbers to make sure it makes sense for you. Best of luck!
