Texas Sample Letter for Warranty Deed - Request for Signature
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How to fill out Sample Letter For Warranty Deed - Request For Signature?
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FAQ
Your parents can put your name on the deed to their house. Many people might see this as a simple method of estate planning. However, it may be a bad idea.
A general warranty deed must include the following to be valid: The name and address of the seller (called the grantor) The name and address of the buyer (called the grantee) A legal description of the property (found on the previous deed) A statement that the grantor is transferring the property to the grantee.
As a property owner and grantor, you can obtain a warranty deed for the transfer of real estate through a local realtor's office, or with an online search for a template. To make the form legally binding, you must sign it in front of a notary public.
To ensure a legal change to the property title, you'll want the services of an attorney. A qualified attorney will prepare and file the real estate transfer deed.
By adding another person to a deed, you are essentially gifting them a portion of the property's value, which may trigger the gift tax. Gift tax is a federal levy on transfers of money or property to another person while getting nothing, or less than full value, in return.
But a transfer of ownership must occur to add someone to title to real estate. There is no way to ?add someone to title? or ?add someone to a deed? without transferring ownership, either at the time of the deed or on the death of the owner.
In Texas, there is a presumption that all property acquired during the marriage is community property unless proven otherwise. This means that even if your name is not on a deed, the property may still be considered community property by default.
It is called a ?Warranty? Deed because the Seller who signs the deed is making a warranty [promise] that the Seller owns the property and that the property is clear of liens and other problems that are not stated in the deed.
