Alabama Partition Deed for Surface Estate
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How to fill out Partition Deed For Surface Estate?
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FAQ
50 per $500 or $1.00 per $1000 on value of property conveyed - charged in increments of $500. The amount of value conveyed is always rounded to the nearest $500. A $1.00 ?no-tax? fee is charged on deeds that are tax exempt.
A partition action is a lawsuit that asks the court to determine the ownership shares of the property and the value of the property. The court may order the property sold and for the proceeds to be split between the co-owners.
Not recording a deed can cause problems for the grantee. They may be unable to obtain a mortgage, insure the property, or sell it. Even more problematic, an unrecorded deed may make it possible for the grantor to sell the property to a buyer and subsequently sell the same property to a different buyer.
The deed should be signed by the current owner or owners, with each signature notarized using Alabama's statutorily approved acknowledgments. There is no need for the new owners (grantees) to sign the deed.
A California partition action happens when one co-owner of real property wants to sell but other co-owners do not want to sell their ownership rights. Partition means division. The opposing co-owners have the absolute right by law to divide the property and sell their portion with the legal remedy of ?Partition?.
Partition is the division of real or personal property between or among two or more co-owners, such as joint tenants or tenants-in-common. Partition is not a remedy available to owners who hold title as community property or quasi-community property.
Attorney Involvement All legal documents must be drafted by an attorney licensed to practice in the State of Alabama. Parties to a transaction can draft their own documents if they are doing so on behalf of themselves.
A correction deed is an instrument used to correct an error in a deed that has been recorded at an earlier date. In order to correct a prior deed on record, use a correction deed, which must be notarized and recorded at the same county agency as the earlier deed.
