Ellicott City Deeds And Property Transfers Lawyer

Deeds and Property Transfers Attorney In Ellicott City

Set in the heart of Howard County, Maryland, Ellicott City is home to a bustling community that combines small-town charm with proximity to Washington, D.C., and Baltimore. For folks living in this area, deeds and property transfers are crucial to managing real estate holdings, especially after the death of a beloved family member or friend. Whether you are transferring property into a trust or navigating probate, an Ellicott City deeds & property transfers lawyer is here to assist.

At Liberty Legacy Law Group, we are available to help you handle the ownership transactions that often happen with property after an individual passes away. We work hard to ensure that the rights and interests of our clients are protected and the future of the property is secure. We can do so through several legal means, including deeds, title documents, contracts, contingency agreements, and other similar tools. Let us help honor the wishes of your loved one.

Defining Deeds in Ellicott City, Maryland

At Liberty Legacy Law Group, we understand that what matters most to you is that your loved ones are taken care of. Whether you are establishing an estate plan for the future and want to dictate how your real estate holdings will be transferred after your death, or you are dealing with the death of a loved one and any deeds or transfers of ownership involved with that, we can be of service.

In Ellicott City, there is a 72.7% owner-occupied housing rate, meaning that the individuals who live in these homes are also the owners of the structure. However, you may wonder what happens to a property when the owner dies. The process of transferring property in Maryland can be simple, but it also necessitates the help of a qualified legal professional. When transferring property, knowing how a deed is defined in the state is helpful.

A deed is a document that transfers the title of a property from one person to another. There are several different kinds of deeds used to transfer property. However, when someone wishes to transfer their property to an heir, they will most likely do so through a quitclaim deed. This is one of the most popular forms of deeds when it comes to transferring property between loved ones or family members, where no money will be exchanged.

This kind of deed works to convey the title, interest, or claim of a piece of property of the grantor to another party. Two common instances of using a quitclaim deed when it comes to estate planning or the death of a loved one include when parents transfer the ownership of their home to their children or when they use this deed to transfer property into a trust or directly to an heir.

Keep in mind, however, that quitclaim deeds can have several downsides. It is vital to work with an attorney when trying to transfer property through these means.

At Liberty Legacy Law Group, we can help you with all types of legal matters relating to the transfer of property through a deed, including:

• Creating the deed itself
• Updating a property deed by changing, adding, or even removing names
• Transferring a deed through estate planning, gifting, or inheritance transfers

How To Transfer Property After a Death

When a loved one passes away, their assets will need to be distributed according to their wishes laid out in a will or trust. Real estate holdings are often some of the largest assets held within an estate and will require a unique process for transferring this property to the individual inheriting it.

Before you can proceed with transferring this property, you and your attorney will first need to determine how the property is titled. How a property is owned can impact the overall transfer process, as some ownership types can bypass the probate courts entirely.

• Joint Tenancy with Right of Survivorship. If the property of the deceased individual was owned jointly with another individual who retains survivorship rights, it will automatically pass to the surviving owner, and no probate will be necessary.
• Tenancy in Common. If the property in question was owned as tenants in common, the share of the property owned by the deceased will go through probate and be transferred according to the will.
• Sole Ownership. If the property was owned solely by the deceased individual, it would be required to go through probate and be transferred in a way that aligns with the wishes of the will.

If a piece of property, such as a family home or vacation home, is subject to the probate process, the courts will need to authorize the official transfer. The executor, the individual who is in charge of settling the estate, will need to take the following steps:

• Include the property in the inventory of all the estate’s assets.
• Obtain an official property appraisal to determine the fair market value of the property.
• Notify the beneficiaries who are listed in the will of the upcoming property transfer.

The estate’s executor must follow all of the restrictions and instructions laid out in the will, such as keeping the property within the immediate family or selling it to fulfill certain tax obligations. This is why having a secure and comprehensive estate plan is so important; however, only around 32% of adults in the United States have utilized this necessary tool.

To officially transfer ownership of an asset or property, the executor will have to file a new deed with the local land records office in accordance with the state laws. It will name the new owner of the property and also ensure that any outstanding property or estate taxes are paid before the transfer is complete.

Speak With a Trusted Deeds & Property Transfers Lawyer Today

The process of transferring property held within an estate after a family member’s death is both challenging and emotional. Thankfully, the attorneys at Liberty Legacy Law Group are here to help. If you are ready to take the next step in securing your inheritance, contact our office today and schedule your initial consultation with our team.