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Wednesday, November 12, 2014

Did you know that the easiest way to resolve a dispute over Heir Property is to have them quitclaim there rights to the property?


Did you know that heirs’ property (HP) is mostly rural land owned by African Americans who either purchased or were deeded land after the Civil War?

Did you know that Heir Property is land that was passed down through the generations without the benefit of a written Will, or the Will was not probated within the 10 years required by law to make it valid – so the land became heirs’ property?

Did you know that Heirs’ property is land owned “in common” (known as tenants in common) by all of the heirs, regardless of whether they live on the land; pay the taxes or have never set foot on the land?

Did you know that Heir Property is the most complex land to refinance or sell?

Did you know that a quitclaim deed is a legal instrument by which the owner of a piece of real property, called the grantor, transfers any interest to a recipient, called the grantee?

Did you know that the owner/grantor terminates (“quits”) any right and claim to the property, thereby allowing claim to transfer to the recipient/grantee?

Did you know that the easiest way to resolve a dispute over Heir Property is to have them quitclaim there rights to the property?

 
Did you know that all it takes is for one Heir to disagree with his share of the property will cause the property to not be sold or refinanced





 Now if you didn't know, now you know...



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