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Document Preparation

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Direct Legal, PC provides legal document preparation services to parties who need assistance in completing confusing legal forms.

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Direct Legal, PC provides legal document preparation services to parties who need assistance in completing confusing legal forms.

Unlike legal document preparation services, you receive customized service from one of our attorneys who will discuss your needs with you in detail.

Many forms, while seemingly simple, have significant legal effect such as removing someone off of title, violating a provision in a loan document, increasing property taxes, or other legal ramifications that the client should be informed of. The attorneys at Direct Legal, PC can help advise clients on each of these documents, explain the pros and cons of each, and carefully prepare each document based on our clients’ specific needs.

Depending on the circumstances, this type of service is usually on a flat fee.

Deeds

A Deed is a written document that transfers title (ownership) or an interest in real property to another person or entity. Different types of deeds are used depending on the circumstance. Depending on the type of circumstance. While simple in form, a deed can have legal ramifications if it is not prepared properly. For example, it can create an uninsurable deed, property tax re-assessment, and/or a lender may accelerate an existing loan under the default provisions of a Deed of Trust if the Deed reflects a change of ownership without the consent of the Lender.

A Properly Prepared Deed Must:
  • Be in writing
  • Be signed by the current owner(s) of the property
  • Properly identify the Grantee(s) (person or people receiving title to the property)
  • Properly identify how the Grantee(s) want to take title
  • Include the correct legal description
  • Identify the property (usually with the Assessor’s Parcel Number)
  • Be Notarized
  • Be recorded in the county where the property is located
  • Include the correct tax exemption code (if applicable)
Grant Deed

A Grant Deed is the most popular deed when buying or selling real property. It not only ensures a legal transfer of title, but the Grant Deed includes specific warranties that are beneficial to the purchaser. As a seller, the Grant Deed makes two warranties to the buyer. A seller who transfers property by grant deed warrants that the property has not been sold to someone else and that the property is free of debt or other encumbrance that may affect title. Recording a grant deed in the county land records gives notice to the public that the property has been sold.

Typical Uses of a Grant Deed:
  • You’re buying property and want to have warranties against the title to the property.
  • You are buying or selling property with a person who you don’t know well.
  • You own a business and you want to buy or sell real property.
Quitclaim Deed

When life changes, often your ownership in a property will change with it.  Quitclaim Deeds are typically used to transfer real property to a family member, when you need to transfer property into a trust, a limited liability company, or corporation. With a Quit Claim Deed, you can make the change official. Unlike a grant deed, quitclaim deed conveys only such rights as the grantor has and is typically used when money is not involved in the transaction.

Typical Uses of a Quitclaim Deed:
  • You are passing your rights in a piece of property to a spouse or ex-spouse
  • You are gifting your property to another person or family member
  • You are transferring ownership in a property to a trust
  • You are correcting the spelling of a name in a previous deed
  • You are changing the vesting of title (how the property is owned) between owners
  • You are clarifying if the property is community or separate property after marriage
  • You own a business and you want to buy or sell real property
Interspousal Deed

An Interspousal Deed transfers title (ownership) between married couples.

Typically, an Interspousal Deed is used in divorce proceedings when one spouse is awarded full ownership of the family house. However, they are not only reserved for divorces. Interspousal Deeds are also used when a couple is applying for a loan if one spouse’s credit is significantly better than the other’s. Additionally, if only one spouse is borrowing money, some lenders routinely ask the other spouse to sign an Interspousal Deed so that he cannot assert a claim to a part of the recovered debt in case of a foreclosure sale.

Typical Uses of an Interspousal Deed:
  • One spouse wants to add the other spouse to title
  • One spouse wants to transfer title to property as a result of divorce settlement.
  • Where one spouse must be removed from title for financial or legal reasons.
  • Transfer due to the death of one spouse.
Reconveyance Deed

A Reconveyance Deed is a document issued by a mortgage holder indicating that the borrower is released from the mortgage debt and transfers the title from the lender, also called the “beneficiary”, to the borrower, also called the “trustor”.

A Reconveyance Deed is an official document from a mortgage holder releasing the debtor from the mortgage. It is evidence that the loan has been fully paid off. The original Promissory Note signed by the borrower is marked “PAID,” returned to the borrower, and a Reconveyance Deed is issued to the homeowner showing the mortgage has been paid off.

Power of Attorney

A Power of Attorney is a powerful legal document that allows for someone you trust to handle your financial affairs if you become incapacitated, unavailable, or unable to make decisions for yourself. A Power of Attorney is useful in estate planning as it allows your agent to act on your behalf if you cannot do so personally. You can decide which financial powers to give your designated agent (“attorney in fact”). This person may be anyone you trust such as your spouse, son, daughter, friend, or other responsible person. Some powers that you grant to your agent may include your agent handling real estate properly, bank accounts, and tax matters on your behalf.

Typical Uses of a Power of Attorney are For:
  • Medical decisions in the event of incapacity
  • Financial decisions in the event of unavailability or incapacity
  • To buy or sell real estate (or matters affecting property)
  • Between spouses in the event of incapacity

Promissory Notes

Whether you’re borrowing money or providing a loan to someone else, a Promissory Note is necessary to establish a record of the transaction and make sure that repayment terms are clear and concise. With a Promissory Note, you can outline all of the terms and conditions of the loan, such as interest rate, maturity date, and possible late fees, so be sure to get it done before money changes hands. The Promissory Note will contain different types of provisions depending on the terms of the agreement between the Lender and Borrower. Direct Real Estate Law, PC will discuss the different options and create a Promissory Note that is customized to each client’s needs.

Typical Uses of a Promissory Note:
  • You plan to loan money to another person or business, and would like to formalize the agreement.
  • You’re looking to borrow money from a private party or a business, and you’d like to get all the terms in writing.
  • You’re involved in a loan that includes interest, and you wish to prepare an amortization table for both parties.
  • You need a written record determining the amount of a monthly loan payment.
  • You’ve been asked to create a Promissory Note on behalf of a lender and borrower to outline the terms of a loan.

Deed of Trust

Deed of Trust (known as a “mortgage” in some states) is a security instrument that collateralizes a loan. It is usually used together with a Promissory Note. The Promissory Note is the written promise to repay borrowed money and the Deed of Trust makes a piece of property security for the loan (“collateral”). In the event that the loan is not paid off or repaid on time, the Lender (also known as the “Beneficiary”) can foreclose on and sell the property in order to pay off the loan.

To be valid, a Deed of Trust must include the proper legal description, be signed in front of a notary public, and be filed at the appropriate city or county office.