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11 Landlord's Notice of Rent Increase
When a landlord desires to increase the rent on a current tenant there are limitations and requirements before a landlord can do so. One of the requirements is notice to the tenant. Different state's laws very as to what makes notice acceptable. For example, how much time is required. It is important to comply with your particular state landlord/tenant law, however, most states require the notice to be written.
Use this document to give written notice to a tenant of an landlord's intention to increase rent.
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12 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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13 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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14 Notice to Tenant to Make Repairs
During the course of a tenancy there may be necessary repairs to the leased premises. These repairs may be mandatory or voluntarily made by the landlord. A tenant will need to give written notification to the landlord of repairs that need to be made. This notice is to make the landlord aware of the problems and also serves as documentation of the problem should any legal issues arise from the repair situation, or the lease situation in general.
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15 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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16 Real Estate Co-Purchaser 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, from multiple parties, to a seller on a real estate transaction.
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17 Sublease
When a landlord and tenant are under a lease contract, tenant may desire to sublet to a third party. Thereby transferring all rights and obligations of tenant (who becomes sublessor) to the sublessee. Depending on the jurisdiction, a fiduciary relationship will remain between landlord and original tenant as well as being created between sublessor and sublessee and created between landlord and sublessee.
Use this document to create a sublease to be entered into between an original tenant (sublessor) and new tenant (sublessee).
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18 Memorandum of Lease
A memorandum of a lease document is typically a one-page summary of an ordinary lease agreement between a landlord and tenant. The purpose of the document is to record or memorialize a minimum amount of lease terms. For example, the names and addresses of the parties will be included, but not the rental rate or other unnecessary provisions.
Use this document to publicly record the existence of a real estate lease but leave unnecessary provisions off of the public record.
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19 Grant Deed to be used to convey property ownership as community property
A Grant deed is a deed where 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 grantors own possession of the property, and all the way back to its origins. This Grant deed 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.
Some States, such as California, use Grant deeds, while other states, such as Oregon, use Warranty deeds. Before deciding on which deed document to use be sure to check with the laws of the state where the property to be conveyed is located.
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, half of the community property passes to the living spouse or partner, and the other half passes by will or intestate. Different states treat community property differently and therefore the laws of your particular state should be consulted.
At the time of this writing there are nine community property states in the United States: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin.
Use this document to create a Grant deed conveying property ownership to a married couple or in some states domestic partnership, as community property.
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20 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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