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After helping to plan and administer more estates than we could count, one of the most common problems we have encountered is cases where people tried to draft their deeds for their property, causing severe problems. In this blog post, I want to explain the consequences of a poorly drafted deed and why you should seek professional help when dealing with such important documents.
A deed is a legal document that transfers property ownership from one person or entity to another. It must contain certain elements, such as the names of the parties, the description of the property, the consideration (price or value), and the signatures of the grantor (seller). It must also be recorded in the county where the property is located to make it effective and public.
If you draft your deed without proper knowledge and guidance, you may make mistakes that can seriously affect your property rights and interests. Here are some of the possible consequences of a poorly drafted deed:
These are just some issues that can arise from drafting your deeds. There are many more that I could mention, but I think you get the point.
Your house is probably your most valuable asset and has a lot of emotional and sentimental value. You don't want to risk losing it or having it diminished by a poorly drafted deed to save a few bucks. I strongly recommend hiring a qualified attorney to help you with your deed and ensure it complies with all the relevant laws and standards. It may cost you some money upfront, but it will save you and your family a lot of headaches and expenses in the long run.
If you think it might be time to think through your estate plan, you can:
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Disclaimer: The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute an attorney-client relationship.
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