Why the Quitclaim Deed Might Void Your Title Insurance
Friday, November 06
In an earlier post, we covered a brief history of deeds and what the quitclaim deed actually does versus a warranty deed. In this post, I'll take you into an actual title insurance policy and explain why using a quitclaim deed to convey property is almost always a bad idea when you or your compan...
Quick & Dirty: Why the Quitclaim Deed is Bad for Business
Friday, November 06
I get it. Who the heck has ever used the word “quitclaim” in conversation? It’s an unfamiliar word. So it’s not surprising, then, that many people mishear the term and instead think that they’re hearing “quick claim.” There’s a pervasive notion in the world of real estate that using such a device...
Estate Planning and Asset Protection: The Terminology of Trusts
Sunday, September 27
Most of my clients are aware of the device called a "trust," but the language we use when talking about a trust can get confusing quite quickly. In this article, I'll break down the terminology we use in the business and give a few examples of how trusts work.What is a trust? It's an arrangement ...
Asset Protection Trusts: Watch your language!
Sunday, September 27
In the law, what you say can become really important years down the line in a way that couldn’t be foreseen. In this article, I’ll discuss why the help that most of my clients seek — asset protection — can sometimes backfire when the plan actually needs to protect their assets.Related: Estate Pla...
The Emporer Has No Clothes: The LLC Without an Operating Agreement
Friday, April 10
In an earlier post, I discussed the pitfalls of using a one-size-fits-all operating agreement, especially for real estate investing. What about when an LLC has no operating agreement at all? This is a common scenario when someone files the articles of organization with their state's secretary of ...
Title vs. Deeds, and the Different Types of Deeds
Thursday, April 09
Title and deeds are two different things. Title is the concept of rights associated with owning property, and the deed is a document evidencing transfer of title. Title, when good, allows you to legally keep others off your land. A deed without title is void.Warranties of title are what differe...