Stick Age Deed For Free

The deed and title of a home are closely related, but have important differences. When you own a home, the deed is the physical document that proves ownership. The title is the concept of legal ownership that the deed grants you.

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.

If your name is on a deed to a house, then that means that you are the property owner. Having your name on a deed means that you have property title, which represents a set of rights you have as a homeowner.

Loss of control. If you add your child to the deed or financial accounts, you lose control of your property and your money. If you want to sell or refinance your home, your child will have to consent. Moreover, if you decide you want to remove your child from the deed, he will have to sign a quitclaim deed.

One such document you must have is the deed. The deed transfers the title of the property to or from you. There are four commonly seen deed categories: Quit Claim, Warranty, Special Warranty, and In Trust Deeds. When buying or selling real estate, it is important to understand the differences in each type of deed.

Adding a child to a deed of house means that the child has an ownership stake in the house and is therefore entitled to a portion of the proceeds if the house is sold.

Here are the steps to completing a deed transfer in Georgia: Names the Current Owner and New Owner. Contains a Description of the Property. Signed by Current Owner. Two Witnesses: Unofficial Witness & Notary Public. Complete a PT-61, Transfer Tax Form. Record Deed in County Real Estate Records.