The blessing is in the hand of the doer. Faith absent deeds is dead.
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Continuing:
After I got the Real Estate Purchase Agreement document from the lawyer, I met with the seller of the property, or land, at his kitchen table and I gave him a cashiers' check for $30,000 and $5,000 in cash.
He signed the paperwork and we shook hands and that sealed the deal.
Then I took that signed Purchase Agreement to the lawyer to "draw up the paper work".
He also recommended that I "purchase" title insurance, which he also sold, and I agreed to that too.
Then the lawyer asked me about the purchase price and I, feeling put on the spot and confused about it, said $25,000. Since I didn't know what I was doing, that seemed like a good compromise at the time.
Something didn't sit right with me about that though, because the purchase agreement didn't name the price, and I felt like that was none of the lawyer's business.
He tricked me into disclosing a sum though by having a blank space on the deed for the purchase price, so I thought it had to be provided.
In hindsight, I did not have to disclose that private deal at all!
I have since noticed that most recorded deeds say nothing about how much the land was sold for.
Attorned again!
A few days later I went by the lawyer's office and picked up the completed WARRANTY DEED and paid him for it.
The document was stapled to a blue piece of heavy paper, the exact same color which Motla68 showed on his picture of his private agreement, which he called Robin egg blue. Not sure I've ever seen a robin egg, and I noticed that Motla68 may be banned now, but it makes me wonder about the symbolism of it. Does anyone know about this?
The lawyer said I needed to record the Warranty Deed at the County Court House.
When I went there, I was surprised that I had to pay a hefty "transfer tax" which was a percentage of the purchase price.
I knew I was getting screwed, only I didn't know what to do about it.
I felt like I didn't have a choice and paid up.
I've attached the sanitized Warranty Deed.
Treefarmer
There is power in the blood of Jesus
Continuing:
I acquired another adjacent 5 acres some years down the road from my mother, who gave it to me as a wedding present.
She had originally bought it to build a cabin on it, so she could visit me and spend time in the woods.
Then she realized she liked neither the climate, nor the chiggers (red bugs), nor the native Tennessean culture, and especially not my new husband, so voilà - the perfect wedding gift.
I am very grateful and appreciative of this of course and I do count my blessings, realizing my unworthiness
This tract of land had been bought for $15,000, paid in cashier's check in a private deal with the neighbors, who also live next door.
The Warranty Deed shows as purchase price the $ amount of an old assessment value though.
Interesting how that works.
Again, it seems like it was unnecessary to put any price on there, because none of the previous owners' deeds showed purchase prices. These are private land deals after all.
Attorned again, this time by a new lawyer, who took over that only law office, after the previous lawyer I had dealt with was promoted to county court judge.
I noticed that the new lawyer did not utilize the blue paper wrappers, which the previous lawyer had been in the habit of stapling to the deed documents.
I did not purchase title insurance on this one.
My mother had purchased the title insurance, and I was getting tired of being attorned, so I let it go. I figured the title was probably good.
I had to pay a transfer tax at the court house again when I registered my deed.
Attached is the Warranty Deed for the 5 acres.
Treefarmer
There is power in the blood of Jesus
I'm noticing that the quality of the attachments is really bad.
Anybody have any ideas how I can get it to look better?
Treefarmer
There is power in the blood of Jesus
The blessing is in the hand of the doer. Faith absent deeds is dead.
Lawful Money Trust Website
Divine Mind Community Call - Sundays 8pm EST
ONE man or woman can make a difference!
I suppose it depends of perspective. If I can sell you an interest by way of assignment, by and thru the Trustee, then we don't need a DEED. This is much,much more superior to any of these DEEDS discussed herein.
If you are one who wants a DEED, then I am going to issue one of three - Limited Warranty Deed, Bargain and Sale Deed or Quit-Claim. If you want a Title Search, then do it yourself or pay an attorney. If you are one who uses banks, then you will be forced to get a title search.
But I can guarantee, that in the Purchase and Sale Agreement, I am NOT paying for it.
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Transfer into Trust - Warranty Deed to Trustee. When you want to sell - Assign beneficial interest to another party. Substitute Trustees....have a nice day.
The Trust is Superior.
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There was one who asked concerning the word "Forever". That's a mighty long time......See the trust.....READ carefully the "TO HAVE AND TO HOLD CLAUSE......I hope after you do you can see the trust.
Reader - the Legal Title is NEVER impaired or even Transferred. It is the equitable Title that is transferred in Trust. Therefore the Property NEVER leaves the Trust - Forever.
Is property the land or the house? If you answer yes, then you do not understand the trust.
The blessing is in the hand of the doer. Faith absent deeds is dead.
Lawful Money Trust Website
Divine Mind Community Call - Sundays 8pm EST
ONE man or woman can make a difference!
If selling the interest in land, assuming the seller has the whole interest, all papers concerning the land would be turned over to the buyer including plat map, first title deed (land patent), title abstract (all deeds chaining back to the first title deed), and conveyance deed.
If the person (seller) really was on his toes he would include all treaties, acts, and statutes that have bearing on his first title deed (land patent) as well.
This is if the seller was on the ball ...
Last edited by shikamaru; 06-03-11 at 01:18 AM.