Philadelphia Deed Transfers Lawyers
Philadelphia Deed Transfers Lawyers
A deed is a legal document that states ownership of a piece of property. When you go to purchase a home, you typically cannot buy the home outright. You must go to a bank to obtain a mortgage. Until a homeowner pays the mortgage in full, the bank holds the deed. Once you have the deed in your possession, you might want to sell the property. By doing so, the deed must be legally transferred from the current owner to the future owner without imperfections.
At Freundlich & Littman, LLC we are your dedicated and experienced deed transfer attorneys. We handle deed transfers, property transfers, and other issues related to deeds. The manner in which a deed transfers owners is important. One false move could void the transfer. Legal counsel is often necessary for out of state deed transfers and complicated title exchanges.
Types Of Deeds
A second and equally important reason to have legal counsel is the type of deed. Not all deeds are the same. Deed transfers are more complicated than a simple exchange of a property and a piece of paper. That single piece of paper can have ramifications for current and future owners if not executed properly.
Take note – you must understand the type of deed transfer before agreeing to the sale. Otherwise, the implications shock you down the road.
- Warranty Deeds: In Pennsylvania, most people complete housing and other real estate transfers via a warranty deed. As a buyer, this deed is useful. The warrant deed, as the name suggests, provides a warranty on the property. The current owner makes a legally binding promise that the property is “good and marketable.” This means that the property is free from defects. Defects include liens against the property or third party claims to the deed.
- Quietclaim Deeds: These deeds are common among real estate transfers. Often, sellers list homes subject to liens, heavy mortgages, or foreclosure as “as-is.” This distinction is another name for a quitclaim deed. This means that the current owner holds no legal obligation to the future owner. They have no obligation to protect against third-party entanglements. This dead is not as safe for prospective homeowners. The plus side is that these home tend to be less expensive.
PA Deed Transfer Attorneys
Freundlich & Littman is your local greater Philadelphia area deed transfer attorneys. A deed transfer is a delicate and exciting part of a homeowner’s life. In the excitement, the proper legal procedure is not always followed. This means that a third party may claim a legal right to the deed.
For instance, a deed holder could transfer to both of his sons solely and without each other knowing. Both transfers were good on paper. Who then gets the property? This situation is more common than you can imagine and complicated. We specialize in complication. Let us handle your deed transfer issues. We work hard so that our clients do not have to worry.
Contact us today for a free consultation and case evaluation.
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