Real estate is becoming increasingly more valuable as more people buy property for personal or investment reasons. With this in mind, the question of how to take ownership of a property is becoming extremely important. The vesting of title, or the form of ownership taken, will dictate who can sign documents relating to the property and who has any future rights of ownership. Future rights of ownership can include such matters as taxes (property, income, inheritance or gift), the ability to transfer title, or any liability to creditor's claims. How the title of a property is vested can also have significant probate implications in the event of a death.
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" In the old days, you would have one lawyer to handle everything: speeding tickets, buying a house, contracts, litigation, real estate, copyrights, leasing, entertainment, intellectual property, forensic accounting, criminal offenses... the list goes on. Now, you have to have a separate lawyer for each one of those categories! " --James Belushi ArchivesCategories |
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