November 24, 2019
Deeds transfer ownership of real property in Indiana. During the transfer of property, deeds come under scrutiny. An inaccurate or incomplete deed can expose parties to liability and interfere with the conveyance of property. A real estate lawyer in Indiana can help prepare a deed that meets your goals and protects your interests.
Types of Deeds
Property owners in Indiana have several types of deeds available to them. The majority of property transactions use the warranty deed. A warranty deed declares that the title is marketable and the grantor, or seller, bears the responsibility of defending the title from third-party claims when signing over the deed to the grantee, or buyer. An attorney at Webster & Garino can advise you if any irregularities appear on a title report for Westfield Indiana real estate.
Quitclaim and special or limited warranty deeds do not provide a full guarantee to the grantee regarding the status of the title. A limited warranty deed will offer a partial guarantee that the grantor has not identified any title defects while owning the property. A quitclaim deed does not provide any assurances about the title, but this type of deed is most often used for non-sale transfers between spouses or relatives. A real estate lawyer in Indiana can recommend an appropriate type of deed for your situation.
When two or more people buy Westfield Indiana real estate, they must consider how the deed will describe their tenancy. Their options are declaring themselves to be joint tenants or tenants in common. This choice guides what happens when a co-owner dies. Joint tenancy enables the automatic transfer of the decedent’s share of ownership to the other owners. Tenancy in common differs in that the decedent’s ownership interest passes to heirs who might not be the other co-owners. You will resolve uncertainty about how to approach this choice by consulting a Westfield real estate attorney.
Using Deed in Your Estate Plan
Since a deed affects the transfer of real property, deeds can also be used as part of your Indiana estate plan. A Joint Tenancy with Rights of Survivorship will avoid probate and transfer property to the surviving owner. If you own Indiana real estate with your spouse, by simply designating your ownership as “husband and wife” will avoid probate and transfer the property to the surviving spouse. A Transfer on Death Deed allows an individual to designate beneficiaries on the deed, so the property will pass to the named beneficiaries and avoid probate.
If any money exchanged hands for the transfer of the property, then you will need to complete an Indiana State Sales Disclosure Form and file the form and deed with the applicable county recorder. Recording at the correct county recorder’s office is essential for maintaining the deed as an official record. An Indiana real estate attorney will review this document and correct errors that will confuse the legitimacy of the deed in the future.
Talk to Us at Webster & Garino
The representation of a real estate lawyer in Indiana can prevent costly or inconvenient disputes during or after the sale of the property. Contact our Westfield real estate attorneys today for guidance on a real estate transaction.
November 8, 2019
The act of buying or selling a residential home in Indiana imposes legal obligations upon both parties. Due to the high value of most real estate transactions, a consultation with an Indiana real estate attorney knowledgeable about real estate law in Indiana could alert people to problems. Both buyers and sellers may elect to have an attorney present at the closing of a sale. An attorney might explain the nature and purpose of each document and answer questions about itemized closing costs.
Analysis of Closing Documents
The parties assembled at a closing will include the representative of the title company, the seller, the buyer, and their real estate brokerage representatives. Someone from the financing institution might also attend, and everyone might bring an attorney. During the meeting, the buyer and seller must execute numerous documents to complete the real estate sale. Paperwork will cover financing, the deed, title, and the financial debits and credits assigned to the buyers and sellers.
When you bring an Indiana real estate lawyer, you gain access to immediate advice if any questions or problems arise. If last-minute disputes emerge, your attorney might tell you about your rights under real estate law in Indiana.
Even if disputes are not an issue, an attorney could confirm that each document has been prepared correctly before you sign it. An Indiana real estate attorney might also detect the absence of necessary forms, like important disclosures or title clearance.
Some closing costs might also require adjustment, and an attorney could manage that action. With legal representation at closing, you could be prepared to address anything that appears inconsistent with prior communications regarding the sale.
Prior to Closing
Buyers and sellers might choose to consult an attorney about real estate Westfield Indiana during the earlier stages of a transaction. To comply with the Residential Real Estate Disclosure Law in Indiana, an attorney might explain a seller’s obligations about informing potential buyers about the status and defects of a residential property.
Either a buyer or a seller might wish for an attorney to review the purchase agreement prepared by the real estate broker. An attorney might propose adjusting or adding clauses to the contract to protect the client’s specific interests. At the closing, an attorney might check to ensure that the purchase agreement contains any language adjustments that the parties agreed to previously.
Learn About Your Rights
The attorneys at Webster & Garino are available to provide comprehensive advice and support during sales of real estate Westfield Indiana. State laws governing real property are complex and nuanced. We can help you understand your position. Contact us today.
October 23, 2019
Inattentive owners of Westfield Indiana real estate could eventually become subject to an adverse possession claim. Adverse possession describes the concept of people acquiring title to property by occupying it instead of purchasing it. Indiana law sets forth the conditions that could result in a party gaining legal title to property without paying for it. Whether someone is making an adverse possession claim against your property or you wish to apply adverse possession to obtain legal title, it is import to consult with an experienced Westfield Indiana real estate attorney.
A person must occupy a property for at least ten years in Indiana to make an adverse possession claim. During this period, the person must also prove additional continuous actions that meet the other conditions necessary for an adverse possession claim.
Exclusive and continuous possession is necessary to show control. A person cannot share the property with others while occupying it for personal use. Someone might assume actual possession of a parcel because of an incorrect deed, misinterpretation of a deed, or failure to realize that the property belongs to someone else.
Trespassing represents another form of possession known as open and notorious possession. The party is aware that the land belongs to another party but knowingly occupies and uses it anyway.
The person occupying the property must make clear the intention of claiming ownership of the property.
To go forward with adverse possession, the person, known as the claimant, needs to inform the actual owner. The claimant may provide formal notice to the owner of the record or fulfill the notice requirement constructively. This would occur when the claimant’s actions make clear the intention of assuming ownership.
Payment of Taxes and Special Assessments
Indiana law expects claimants to prove that they paid the taxes for the property while occupying it. Evidence that a claimant made a reasonable faith effort to pay the taxes could suffice. A unanimous decision from the Indiana Supreme Court set the precedent that claimants, who realistically believe that they have paid taxes, could satisfy this condition for an adverse possession transfer of title. In Celebration Worship Center, Inc. v. Patrick Tucker, et al., the Tucker family thought that the taxes they were paying included the fees for the adjoining parcel that they sought to claim.
Real estate disputes can be very nuanced. The attention of a Noblesville Indiana real estate attorney can help you succeed with an adverse possession claim or defend yourself from the loss of title.
February 18, 2019
Real estate attorneys help Indiana residents with buying and selling property, but did you know they are also available to help with a variety of disputes and legal issues? Real estate attorneys are experienced in a many different matters that impact both commercial and residential property.
What happens if, after a real estate deal has been finalized, one of the parties realizes that false or misleading information was provided about the property? It may be necessary to file a lawsuit against the other party. Real estate attorneys examine the sales contract of the property, as well as any disclosures that were provided during the negotiation process. If one party was dishonest or misleading, that party may be liable for damages.
With eminent domain, a government entity takes private property to use it for public purposes. In Indiana, there are specific steps that must be followed for the government to take land from a private owner. If these steps are not followed, the property owner may be able to file a claim against the government for damages. Real estate attorneys are experienced in eminent domain procedures and ensure that property owners are fairly compensated during these matters.
Real estate attorneys are not limited to the sale or purchase of property. They may also assist business owners, landlords, and other individuals with negotiating lease terms at various rental properties. The terms of a lease have a serious impact on businesses, so it is important to have guidance during negotiations.
At Webster & Garino LLC, our attorneys are experienced in real estate law matters
Our Westfield, Indiana law firm is highly respected for our experience in real estate deals and disputes. To schedule a free consultation with our legal professionals today, call 317-565-1818.