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Real Estate

Real Estate
Landlord & Tenant

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1 Real Estate Purchase Agreement

A purchase agreement is used by a person seeking to purchase real estate, it is used to make a formal offer. A purchase agreement includes formalities for purchasing real estate such as the amount of down payment, who will be used as escrow agent, and clarifies the rights and obligations of both the person seeking to buy, Purchaser, and the person seeking to sell, Seller. Use this document to make a formal offer to a seller on a real estate transaction.

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2 Quitclaim Deed to be used to convey property ownership to joint tenants with rights of survivorship

A Quitclaim deed allows for the transfer of a share of interest in property. What makes a quitclaim deed unique is that the grantor does not guarantee or warrant anything when transferring his or her share. The grantor may in fact not have title or interest in the property. Some common uses for quitclaim deeds are to transfer title between family members, in a divorce when one spouse will ?quitclaim? his or her interest in the family home to the other spouse for example, or to transfer real property into a trust or to a corporation.

Joint tenants own equal shares to property and like tenants in common, they have the right to possess the whole. The major difference is that joint tenants have rights of survivorship. The death of one joint tenant causes the entire property interest to pass to the other joint tenant or tenants. However, a joint tenant may, during his lifetime, transfer his interest to a third party. The affect of this transfer is that the transferee becomes a tenant in common with the remaining joint tenants. If there were more than two joint tenants to begin with, the joint tenancy relationship between the non transferring owners is not disturbed with regard to each other, only with regard to the transferee.

Use this document to create a quitclaim deed conveying property to multiple parties who wish to take title as joint tenants with rights of survivorship.

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3 Quitclaim deed to be used to convey property ownership to tenants in common

A Quitclaim deed allows for the transfer of a share of interest in property. What makes a quitclaim deed unique is that the grantor does not guarantee or warrant anything when transferring his or her share. The grantor may in fact not have title or interest in the property. Some common uses for quitclaim deeds are to transfer title between family members, in a divorce when one spouse will 'quitclaim' his or her interest in the family home to the other spouse for example, or to transfer real property into a trust or to a corporation.

In states that recognize community property, married spouses, and in some states, domestic partners, who acquire property during the marriage or partnership do so as community property. This means that the property is an asset of the community, and that it is owned jointly by the spouses or partners. There are no survivorship rights with regards to community property, upon death of one spouse or partner of the community property passes to the living spouse or partner and the other passes by will or intestate. Different states treat community property differently and therefore the laws of your particular state should be consulted.

This type of Deed is most often used by a couple after marriage to transfer title from one spouse to both spouses.

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4 Warranty Deed to be used to convey property to joint tenants with survivorship rights

A warranty deed is a deed in which the grantor of property makes certain guarantees to the person whom he or she is conveying the property to, the grantee. The grantor guarantees that he/she holds clear title to a piece of real estate and has the right to sell it. This guarantee extends beyond the grantor's own possession of the property, and all the way back to its origins and also guarantees the property is free from all encumbrances (except as set forth in the document), that the grantee will be able to quietly enjoy the property, and that the grantor will forever warrant and defend the title to the property against any lawful claims and demands.

In many states, tenancy in common is the default for two or more individuals taking title to the same property. Each tenant in common owns an individual share, has a right to possess the whole and may own unequal portions of the property. An owner of a share may transfer through, sale, gift, will or through intestacy, their own share and it does not disturb the other owners. The new party becomes a tenant in common with the remaining owners.

Use this document to create a deed conveying property to multiple parties who wish to take title as tenants in common, without survivorship rights.

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5 Notice to Perform or Quit

A Notice to Perform or Quit is sent by a landlord to the tenant to give notice of one or more violations of the rental agreement between the parties. The notice gives the tenant a maximum number of days in which the tenant may cure the violations, before the landlord takes legal action.

; State law varies on the minimum number of days which a landlord may give to a tenant to cure a violation, but most states allow for this type of notice. If the tenant does not cure the violation within the given number of days this notice may be followed by an action for damages and/or to retake the property from the tenant.

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6 Quitclaim Deed to be used to convey property ownership to a married couple as a tenancy by the entirety

A Quitclaim deed allows for the transfer of a share of interest in property. What makes a quitclaim deed unique is that the grantor does not guarantee or warrant anything when transferring his or her share. The grantor may in fact not have title or interest in the property. Some common uses for quitclaim deeds are to transfer title between family members, in a divorce when one spouse will "quitclaim" his or her interest in the family home to the other spouse for example, or to transfer real property into a trust or to a corporation. Tenancy by the entirety is used in some states by married couples to hold title to property together. The laws and requirements vary from state to state, and should be consulted before proceeding with a deed, but all states require that two people be married to take title this way. Some states, such as Illinois, require that the property be the primary personal residence. Tenancy by the entirety differs from joint tenancy and tenancy in common because it requires the consent of both parties before the tenancy may be broken. One benefit of taking title this way is that only creditors of both the husband and the wife may attach the property, a creditor of just one spouse may not reach the property. At the time of this writing the following states recognize tenancy by the entirety: Alaska, Arkansas, Delaware, District of Columbia, Florida, Hawaii, Illinois, Indiana, Kentucky, Maryland, Massachusetts, Michigan, Mississippi, Missouri, Mississippi, New Jersey, New York, North Carolina, Oklahoma, Oregon, Pennsylvania, Rhode Island, Tennessee, Vermont, Virginia, Tennessee and Wyoming. Use this document to create a quitclaim deed conveying property to a married couple by a tenancy by the entirety.

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7 Loan Modification Letter

In an attempt to negotiate and modify a mortgage or mortgage payments, a borrower may seek to appeal to the lender with a written request to modify. The letter will explain the reason for the hardship, and need for a reduced payment, as well as explain why the borrowers current situation is changing in a positive way.

This letter will enable a borrower to explain his or her difficulty in making payments in the current amount, and to advocate for a reduced payment with reasons why the new payment will be easier to comply with.

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8 Quitclaim Deed to be used to convey property ownership as community property

A Quitclaim deed allows for the transfer of a share of interest in property. What makes a quitclaim deed unique is that the grantor does not guarantee or warrant anything when transferring his or her share. The grantor may in fact not have title or interest in the property. Some common uses for quitclaim deeds are to transfer title between family members, in a divorce when one spouse will "quitclaim" his or her interest in the family home to the other spouse for example, or to transfer real property into a trust or to a corporation.

In states that recognize community property, married spouses, and in some states, domestic partners, who acquire property during the marriage or partnership do so as community property. This means that the property is an asset of the community, and that it is owned jointly by the spouses or partners. There are no survivorship rights with regards to community property, upon death of one spouse or partner 1/2 of the community property passes to the living spouse or partner and the other 1/2 passes by will or intestate. Different states treat community property differently and therefore the laws of your particular state should be consulted.

This type of Deed is most often used by a couple after marriage to transfer title from one spouse to both spouses.

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