If you need to prepare to write any sort of legal documentation for your real estate transactions or dealings, contact us today to discuss how we can help. It is important for your company’s coffers that each of these documents is filled out correctly and clearly, in order to avoid any future legal confusion or complication. Read more about each of these documents and what they are used for, and contact us today to discuss your circumstances and requirements with an experienced Tampa real estate attorney.
What Is a Property Deed?
A deed is an instrument that transfers ownership (either partial or total) of a title from one party to another.
A deed is not considered legally operative until it includes all information about each party (the grantee and the grantor) involved in the transfer, an accurate and complete description of the real estate being transferred, and the details of the transfer. In Florida, deeds require two witnesses, and a notary, in addition to the Grantor’s signature. There are a few types of real estate deeds:
A warranty deed promises a clear title to the buyer of the property. This often follows a completed title search by the buyer’s attorney seller’s attorney, or title company.
A quitclaim deed is the piece of a property transfer that eliminates the grantor’s interests in the property (or the portion of the property being transferred) once the transfer is completed. The quitclaim must cover the specifics of the transfer to protect both the grantor and grantee’s interests in the transfer.
What Are Some Types of Real Estate Contacts?
There are any number of contracts that can come along with real estate agreements, but below are some of the more common contracts we help clients with.
A purchase agreement is a legal document that lays out the specific pieces of a sales agreement. This includes the purchase price, the details about the parties involved in the transactions, the specifics of the property and the nature of the transaction, and all relevant signatures binding the agreement. Once this contract is completed and signed, the details of the transaction are confirmed and you can move forward with the rest of the sale. It is very important that these documents are complete before signing to avoid any future complications.
An assignment contract is essentially a purchase agreement, but instead of going from party A to party B, there is a middleman who is making the initial purchase and then transferring the purchase rights to a third party. These contracts are relatively similar to purchase agreements in language, except it includes the transfer to the final grantee as well. They are commonly used for wholesale transactions.
Power of Attorney
A Power of attorney is not exclusive to real estate, but is a legal document that grants a third party legal authority to making decisions and bid the Principal regarding the property specified in the agreement. For example, a power of attorney in a real estate situation will grant another party the legal authority to signing over titles, agreeing to deeds, and any other aspect of the real estate system.
As we have already said, there are many other contracts that exist in the real estate world, but these are some more common documents you will encounter. If you need assistance with any type of real estate contract, contact us today.
Leasing property is a great way to profit from your real estate. However, it is important that the agreement you sign with your tenant (your lease) is complete, clear, and covers you each from any future disagreements or miscommunications about your relationships.
We work with a variety of landlord roles to create specific leases for their situation, and will happily work with you to complete yours.
Contact Us Today
If you need any sort of legal help with property ownership, sales, or leasing, contact us today to schedule an initial consultation to discuss your requirements and understand how we can help you. You will be able to speak with an experienced Florida real estate attorney, and discuss how we will work with you to meet your investment goals.
If you need help preparing or verifying any legal real estate documents, contact us today to work with an experienced attorney.