TRANSFER OF OWNERSHIP
- Affidavit of Residence
Affidavit of Residence"So you've recently moved to a new place or need to prove your current residence. You can use an Affidavit of Residence to get it done. For example, let's say your child can now go to an excellent school near your new home, but the school has asked that you provide proof of your residence in the school district. Our Affidavit of Residence can help prove you live at the place you call home. There are times when a court or a business will ask you to prove where you live. An Affidavit of Residence is a legal document you can use to do just that: verifying your residence and the residency of anyone living with you. An Affidavit is most often used in response to a school, financial institution, court or other entity's request for proof of residency. You may also need to use this Affidavit to verify where someone lived before their death. Certain agencies or institutions often ask you to verify the residency of a deceased family member before releasing the family member's accounts or funds. In this case, a copy of a death certificate may be required as an attachment to the Affidavit."
- Affidavit of Title
Affidavit of Title"This document can be used to declare who is the owner of certain real property."
- Bargain and Sale Deed
Bargain and Sale Deed"A Bargain and Sale Deed is commonly used to transfer interest in a property or land to a new owner in exchange for an agreed upon sale price. It's most commonly used in New York, Washington, Wyoming, Colorado and Vermont when transferring residential property.A Bargain and Sale Deed With Covenants guarantees the buyer the property is free of indebtedness. A Bargain and Sale Deed Without Covenants is similar to a Quit Claim Deed as it does not provide the Grantee with any guarantees from the Grantor."
- Contract Amendment
Contract Amendment"This document can be used to change one or more provisions of a contract or agreement."
- Contract Assignment
Contract Assignment"A Contract Assignment is a contract in which one party assigns (hands over) contractual rights or responsibilities, under a contract to another party."
- Contract Extension Agreement
Contract Extension Agreement"The Contract Extension Agreement is a document used to extend the term of a contract beyond its original end date. This document is an alternative to preparing a new contract. With the Contract Extension Agreement, you may also make changes to one or more provisions of the original agreement without having to complete an additional contract amendment document."
- Contract for Deed
Contract for Deed"A Contract for Deed is a legally binding contract between a Buyer and Seller of real property where the Seller is financing the loan for the Buyer. A Contract for Deed is also known as an Installment Contract, Contract for Sale and Land Contract."
- Deed of Reconveyance
Deed of Reconveyance"Has the day finally come when you can pay off your mortgage? The Deed of Reconveyance form is to be used when a borrower has paid off the property loan originally secured by a Deed of Trust. The Deed of Reconveyance will name the original borrower, the lender, and the trustee who legally owned the property on behalf of the lender (for example, a title company). The Deed of Reconveyance should be signed by the trustee and notarized before it's filed with the county recorder's office."
- Deed of Trust
Deed of Trust"Unless you're a professional athlete or movie star, chances are you'll need a loan to buy your dream house. When you get that loan, however, you will be required to sign a Deed of Trust (or a Mortgage Agreement depending on your state) as security or collateral for the loan. If the loan is not repaid on time, the lender can foreclose on and sell the property in order to pay off the loan.A Deed of Trust (also known as Trust Deed) is very similar to a Mortgage except for a couple main differences. First, a Deed of Trust involves a third party called the ""trustee,"" who holds the legal title of the property until the debt is repaid. Second, a Deed of Trust allows for a non-judicial foreclosure of the property. This means that the lender can foreclose on the property without having to involve the court system. Whether or not you use a Deed of Trust or a Mortgage depends on the where your property is located. For help in determining which deed you need, review the help article below. Please note: This Deed of Trust is for a primary residence only."
- Grant Deed
Grant Deed"Buying or selling property is a big step, so you want to get it done right. A Grant Deed acts as a guarantee that the sale of real property is legal and enforceable. Importantly, it guarantees that there are no liens on the property, so there aren't any surprises for the buyer down the road. A Grant Deed is the most popular deed when buying or selling property when you don't know the buyer or seller. It not only ensures a legal transfer of title, but the Grant Deed includes warranties. As a seller, the Grant Deed makes two warranties to the buyer. First, it guarantees that the property has not been sold to someone else. Second, it guarantees that the property is free of your debt, or other liens, or you've informed the buyer of the attached debt. Most buyers record a Grant Deed to provide notice that your new property has been sold. Although the Grant Deed is valid when signed, it's recommended that the deed be recorded with your local county recorder's office as well."
- Home Evaluation Worksheet
Home Evaluation Worksheet"This worksheet provides a convenient format for comparing information regarding location, style, size and other features of different properties that a buyer may use to evaluate a home."
- Home Purchase Worksheet
Home Purchase Worksheet"This worksheet assists a buyer with the purchase of a home by helping the buyer identify personal preferences, as well as determine how much the buyer can afford to pay."
- Home Sale Worksheet
Home Sale Worksheet"This worksheet assists with the preparation and sale of a home by providing checklists for choosing a real estate agent, preparing the home for sale, tracking closing costs, and monitoring the progress of the sale."
- Intent to Purchase Real Estate
Intent to Purchase Real Estate"Buying real estate is a big decision, so it's important to get every step in writing. An Intent to Purchase Real Estate letter gives you an outline of the prospective sale. Use an Intent to Purchase Real Estate letter when you want to decide on the terms of the deal before committing to the purchase. An Intent to Purchase Real Estate letter is used to minimize misunderstanding and to document progress on the terms to a sale. It's also a great way for a buyer to help secure financing. The letter provides a lender with evidence on how the purchase will be structured. Our Intent letter is a non-binding document from buyer to seller. The property owner is not prohibited from selling or negotiating for sale the property to another prospective buyer. A non-binding letter allows the parties to document the terms they have agreed on, without a commitment to go through with the sale."
- Moving Checklist
Moving Checklist"This worksheet provides useful checklists and schedules to help organize the complicated process of moving to a new location."
- Notice of Exercise of Option to Purchase
Notice of Exercise of Option to Purchase"This document is used to notify a Property Owner (Lessor) that the Tenant(Lessee) would like to exercise their option to purchase the property. The option to purchase must have be included in the original Lease or an amendment to the Lease in order to use this form."
- Property Agreement
Property Agreement"To bridge the gap between the handshake and the closing, create a Property Agreement to spell out the terms. You can use this agreement whether you're buying a starter home or adding to your portfolio of rentals. For buyer or seller, businesses and individuals, a Property Agreement helps move your transaction to a swift close.When dealing with real estate, you want to cover all your bases. A Property Agreement can help address everyone's best interest. After all, property is usually a person's biggest investment. You may be putting hundreds of thousands—or even millions—on the table, so there's no room for mistakes. A lot can happen between the offer and the handing over the keys. Signing a Property Agreement means that both buyer and seller have made a commitment—neither can back out without a good reason, and breaking the agreement usually means paying a penalty. If you're a buyer, you'll likely have to hand over some earnest money as part of a Property Agreement. Don't skimp on the details: create a Property Agreement to give your real estate deal a strong foundation."
- Property Sale Agreement
Property Sale Agreement"This document is an agreement to sell property at a future date (closing date) under certain terms. You can use this Agreement to determine the obligations of both parties in order for the sale to occur on the closing date."
- Purchase Agreement
Purchase Agreement"Before you hand over your heirloom jewelry or custom mountain bike, write up a Purchase Agreement to create a record of the sale. Buyers and sellers both benefit from having the details in writing, especially if the goods involved are valuable. It's smart to create a paper trail with a Purchase Agreement.It's easy to forgo the formalities when you are buying from an individual. But when you are dealing with expensive personal property, you'll likely want a record of the sale. A cancelled check might suffice, but it only takes a few minutes to create a Purchase Agreement with a more detailed description of the transaction. This is especially important if you're the buyer. What if you find out that the diamond solitaire you planned to propose with is actually a cubic zirconia? When you have a written description from the buyer, you'll have a better chance of getting your money back. Or maybe you're just transferring property. Do you want to make your daughter the official owner of your exceptional vinyl record collection? Get it done right. A Purchase Agreement keeps selling, buying, or transferring ownership or personal property on the up-and-up."
- Quit Claim Deed
Quit Claim Deed"When life changes, often your ownership in a property will change with it. You can use a Quit Claim Deed to transfer real property to a family member, former spouse or when you need to place property in a trust. With a Quit Claim Deed, you can make the change official. Once everything's settled, you can move in or move on for a new beginning. Quit Claim Deeds are typically used to transfer real property among family members. They're often used to change the name of the listed owner on the title to the property; for example, when property is transferred into a trust. Other times, a Quit Claim Deed is used to give up interest in co-owned property, such as in the case of divorce. It's important to understand that a Quit Claim Deed does not guarantee anything about the state of the property being transferred, which is why it's often used among family members. Unlike a Warranty Deed or Grant Deed, it does not promise the property is free of debt, or that no one else owns or claims to own the property."
- Real Estate Agent Agreement
Real Estate Agent Agreement"As a real estate agent, it's important to stay on top of the paperwork so you can spend more time helping your clients. A Real Estate Agent Agreement a must if you're being hired to help a client buy or sell a house or other real estate. With a Real Estate Agent Agreement in writing, you can make sure everything's clear and expectations are met before the deal is done. Whether you're the buyer, seller, or the real estate agent, getting your business relationship in writing with a Real Estate Agreement is a smart move. It describes how the agent will market, advertise, and sell the property for the highest possible price, and the terms of their fee, which is generally a percentage of the real estate transaction. With this agreement, the agent also has the right to sell the property and be reimbursed for their services. Since the real estate agent will generally be an independent contractor, this document helps you avoid any confusion that the Agent is an employee, which could help you at tax time. Create a Real Estate Agent Agreement today to avoid misunderstandings, outline the terms of your contract, and keep your client happy."
- Real Estate Purchase Agreement
Real Estate Purchase Agreement"Whether you're selling your property or purchasing the place of your dreams, creating a Real Estate Purchase Agreement helps protect your rights and define your responsibilities. Buying property is a big transaction, and a Real Estate Purchase Agreement can help you seal the deal and keep track of the sale's progress, all the way until the closing date.With a Real Estate Purchase Agreement, you can easily document all of the terms, big and small, so everything's clear and legal. Our Purchase Agreement includes details like: the address and a description of the property; whether the buyer and seller are individuals, businesses, or trusts; which state laws will govern the agreement; the purchase price; the amount of money the buyer must deposit once the agreement is signed (aka "earnest money"); the closing date, and more. You'll also be able to include any reasons why the sale can be called off. There are a lot of little details, but we'll make it easy by walking you through the creation of your Real Estate Purchase Agreement, step by step."
- Special Warranty Deed
Special Warranty Deed"A Special Warranty Deed is commonly used to transfer interest in a property or land to a new owner in exchange for an agreed upon sale price. Unlike a Warranty Deed, which guarantees clear title (a title free of defects) in all conditions, the Special Warranty Deed only provides the Grantee with a guarantee against problems in the title created while the Grantor owned the property."
- Transfer on Death Deed
Transfer on Death Deed"Many states now offer an easy alternative for leaving real estate without having to go through probate. The alternative is called a Transfer on Death Deed (TOD for short) or a Beneficiary Deed. A TOD is a new estate planning tool that allows you to transfer property, upon your death, to one or more beneficiaries. A TOD is like any other real estate transfer deed except for one very important difference: It does not take effect until your death. Using a TOD avoids probate because after your death, the beneficiary named on the deed takes ownership of the property immediately. There is no probate paperwork or delay.A Transfer on Death Deed may or may not be the best tool for you to use. If you are unsure or have additional questions, use Rocket Lawyer's On Call service to speak with an estate planning attorney in our area."
- Warranty Deed
Warranty Deed"A Warranty Deed is commonly used to transfer interest in a property or land to a new owner in exchange for an agreed upon sale price. A Warranty Deed is a preferred method of transfer as it provides the Grantee (Buyer) with guarantees that the property purchased is free of debt or other liens and that the Grantor (Seller) has the authority to sell the property."
- Washington Bargain and Sale Deed
Washington Bargain and Sale Deed"Reviewed by Rocket Lawyer On Call Attorney Kevin Steinacker, Esq.A bargain and sale deed is a legal document that transfers interest in real property from one person to another, where the grantor makes some promises regarding title, but only related to the period that the grantor owned the property. Therefore, the grantor promises (1) that he or she is the owner of the property, (2) that there are no encumbrances against the property during the time the grantor owned it, and (3) that the grantor will not interfere with the transferee's rights to the property.In Washington, the requirements for a Bargain and sale deed are simple: it must be in writing, contain a legal description of the property, be signed by the grantor, and the grantor's signature must be notarized.Bargain and sale deeds are commonly used by banks who have acquired property after foreclosure. A bargain and sale deed could also be used in other situations where the grantor is unwilling to make the broad covenants that go along with a warranty deed."
- Washington Quit Claim Deed
Washington Quit Claim Deed"Reviewed by Rocket Lawyer On Call Attorney Kevin Steinacker, Esq.A Quit claim deed is a legal document that transfers interest in real property from one person to another, with no covenants at all. In Washington, the requirements for a Quit claim deed are simple: it must be in writing, contain a legal description of the property, be signed by the grantor, and the grantor's signature must be notarized.Quit claim deeds are used for many purposes, including gifts of property, conveyances to correct prior deeds, and conveyances to settle a legal dispute. Quit claim deeds are also used simply to confirm that the grantor does not claim any interest in the described property."