Kentucky Sample Letter for Quitclaim Deed for Foreclosed Property
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How to fill out Sample Letter For Quitclaim Deed For Foreclosed Property?
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FAQ
A consideration statement verifies that the consideration listed in the deed is the actual full amount paid for the property. If the deed transfers property as a gift for nominal or no consideration, the statement affirms that the transfer is a gift and lists the property's estimated fair cash value.
Attorney Involvement Laypersons may conduct real estate closings, but may not answer legal questions that arise at the closing, or offer any legal advice to the parties. However, preparation of deeds and mortgages constitutes the practice of law and must be prepared by an attorney.
Laypersons may conduct real estate closings, but may not answer legal questions that arise at the closing, or offer any legal advice to the parties. However, preparation of deeds and mortgages constitutes the practice of law and must be prepared by an attorney.
The grantors must sign the deed and the signatures must be acknowledged (notarized). The grantor and grantee must sign the consideration statement & the signatures must be notarized. The document must be filed in the county clerk's office of the county where the property is located (or the greater part).
Laws. Signing (KRS 382.130) ? All deeds must be signed in the presence of either two (2) subscribing witnesses or a notary public. Consideration Certificate ? Must be attached to the Quit Claim Deed before recording at the County Clerk's Office.
Law shall not prevent a person (not holding himself out as a practicing attorney) from writing a deed, mortgage, or will.
A property owner can transfer ownership of Kentucky real estate by recording a signed deed. A Kentucky quitclaim deed form transfers the owner's entire interest as of the date of the deed. The new owner receives whatever interest the current owner can legally transfer.
Kentucky requires the person transferring property (the grantor) and the person receiving property (the grantee) to sign the deed. A deed from or to more than one person must be signed by all grantors and grantees. A deed involving an entity must be signed by a representative with legal power to act for the entity.
