What Should I Do with The Paperwork After I Close on a Property?

 

Video Summary

What should I do with the paperwork after I close it to a property? Well, if you’re selling the property, you need to retain a copy of the disclosures that you signed, as well as the contract for the purchase and sale. You also need to retrieve or keep a copy of the title insurance policy whenever you bought the property. And further, you need to keep track of your closing statement. It’s important to keep the disclosures so that if there’s a problem with the property, after you sell the property and the buyer is suing you and saying that you didn’t disclose defects and you have the documentation that shows that you did well, that would be a very good defense to it. You’ll need to keep the closing statements as far as that’s concerned to be able to file your tax returns in the future and to document the sales price. So those are some of the documents. Keep your copy of your title policy. So if someone says that you, there’s a defect in the chain of title, and then they contact you about this, you can furnish them with a copy of your title policy that shows that whenever you receive title that they insured against it, and that way they can contact a title insurance underwriter who initially ensured that you had a multiple title to the property. If you have any questions concerning this, give me a call at (727) 847-2288.

Read more
No Comments

What Should I Do if My Fence is on My Neighbors Property?

 

Video Summary

 

What should I do if my fence is on my neighbor’s property? Well, if your neighbor doesn’t object to it, I suggest you just leave it there. Number 2 is if your neighbor objects to it, well, then you may want to get a survey and to move your fence as far as that’s concerned. Another option that I’ve seen is if the neighbor and you and the neighbor get along fine, but they’re concerned that when they get ready to sell the property, it might be a problem entering into an agreement that everyone’s in agreement that you can leave your fence there for the time being, and then you agree to move your fence whenever they ask you to. If it’s not a problem, then they basically put it off until such time there is a problem. Many people are concerned that if you have a fence that somehow they lose that property that’s inside the fence line and you can basically, they do not, and that you’re not establishing any ownership of that property, which is also a concern, which I guess you, how you convince your neighbor that you’re not going to claim their property. The other, if you can, if the neighbor would grant you an easement, that would be another solution that says that you are allowed to maintain your fence on their property. But otherwise, if the neighbor is insistent that the fence be moved, I suggest that you move the fence. My phone number (727) 847-2288.

Read more
No Comments

Does the Spouse Who Quitclaimed the House, Originally Purchased Before Marriage, Retain Any Rights to it, considering it Wasn’t Treated?

 

Video Summary

Does the spouse who Quit claimed the house to the other spouse and him or herself, which was originally purchased by them, retain any rights to it? I’m assuming that this question has to do if they are involved in the divorce proceedings. Whenever, a husband and wife own a piece of property, they get divorced, well then you start with each party receiving a one half interest in the property as tenants in common. However, in a divorce proceeding, the judge is going to make the determination as to who receives the property and whether or not who gets to live there, whether or not it has to be sold, and whether or not they take into consideration that the property was purchased by one spouse prior to the marriage and later transferred into their joint names. If this is not transferred to husband and wife as far as putting it in husband and wife’s name, and it is to two individuals, the presumption is is that the transfer was a gift of the equity, and each party owns a one half interest. So, if there’s what they call a partition action, which requires the property to be sold, the party who purchased the property does not have a special equity for the contribution or what they paid for the house. If you have any questions concerning this, give me a call at  (727) 847-2288. I don’t do divorce law, so the question, if you’re going through a divorce, you need to talk to your divorce lawyer. Thank you.

Read more
No Comments

During My Divorce, Should I Buy Out My Ex-Spouses Share of the House?

 

Video Summary

During my divorce, should I buy out my ex-spouse’s share of the house? The answer to that is you should not even think about buying out your spouse’s interest unless you have a marital settlement agreement, which settles all your assets and so that everybody knows what everybody’s going to get as a result of the divorce. And hopefully that’s something that you can work out with your spouse as adults rather than anything else as far as your property division is concerned, and then as simply a business decision. But you don’t want to be in a position where you buy out your spouse’s interest in the property and then you pay her for that, and then she turns around and wants more and more money as a result of looking at your other assets or whatever money you have or resources. So, I would strongly recommend that before you enter into any agreement to buy out your spouse’s interest in any real property, that you have a marital settlement agreement and discuss it with your divorce attorney. I don’t do divorces, but my phone number is (727) 847-2288.

Read more
No Comments

How Can You Remove Someone from a Quit Claim Deed?

 

Video Summary

How can you remove someone from a Quit claim deed? Well, if the best way to do it or the easiest way to do it is simply prepare a deed and have them sign off conveying it to the proper person or whomever wishes to own the property. If their name was put on this Quit claim deed or the Quit claim deed file and they had no interest in the property and a constant and their unwilling to clear up this title problem, then you must file what they call a suit to quiet title. That’s where you sue them saying that they had no authority to have their name placed on this title, and then have the court determine that they have no interest in the property and that your title is free of any lien or any claim that that person may have. So if you have any questions concerning this, give me a call at (727) 847-2288.

Read more
No Comments