Legal Documents

Process Buyer and seller come to an agreement; price,

terms, etc. Seller arranges abstract of the title; buyer gets

title opinion Seller fills out a deed and has it notarized Seller needs a Declaration of value and a

groundwater hazard To the recorder Copy of recorded document back to the auditor

for taxes

For Inheritance 1. Through probate; will filed and deed or

change of title recorded; exempt from DOV and transfer tax

2. Affidavit of surviving spouse/joint tenant; even though there is an automatic transfer law require affidavit for taxes

3. Life estate; affidavit required to terminate estate

Other considerations Title search

Does the seller have a saleable interest Kinds of restrictions; real covenant (promise to

do or not to do something), easements, etc. Liens

Title insurance