Subcategories from this category:

Landlord-Tenant, Property Transfers

What is a Warranty Deed for Real Estate?

A warranty deed is a legal document that is used to transfer ownership of real estate from one person to another. It is considered one of the most secure forms of real estate conveyance because it offers specific guarantees to the new owner, known as "warranties." Understanding what a warranty deed is and how it works can be important for anyone buying or selling real estate.

A warranty deed is a written document that contains specific promises or guarantees made by the seller (the grantor) to the buyer (the grantee). The key feature of a warranty deed is that it guarantees the buyer that the property being sold is free and clear of any encumbrances, such as mortgages, liens, or other debts. This means that if any issues arise with the property's title, the seller is liable to the buyer for any damages.

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What Are the Capital Gains Tax on Real Estate in Washington State?

Capital gains tax is a tax on the profit that is made when a property is sold for more than it was purchased for. When it comes to real estate, capital gains tax can be a significant consideration for individuals who are looking to sell a property in Washington state. In this blog post, we will explore the capital gains tax laws in Washington state, as well as ways to minimize or avoid paying capital gains tax on a real estate sale.

In Washington state, capital gains tax on real estate is calculated by subtracting the cost basis of the property (usually the purchase price plus any improvements made to the property) from the sale price. The result is then multiplied by the individual's marginal tax rate, which can be found on the federal income tax tables. This means that if you make a profit when you sell a property, that profit will be subject to capital gains tax.

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The Benefits of Using a Lawyer for a House Purchase

When it comes to buying a house, hiring a lawyer can be an essential step in the process. A lawyer can help to ensure that the purchase goes smoothly and that your rights and interests are protected. Here are some of the key ways in which a lawyer can assist you when buying a house.

One of the most important things a lawyer can do when buying a house is to review and explain the purchase contract to you. The purchase contract is a legal document that outlines the terms and conditions of the sale, including the purchase price, closing date, and any contingencies or contingencies. A lawyer can help you to understand the legal implications of the contract and can advise you on any issues or concerns that may arise. They can also negotiate any terms or clauses of the contract to better suit your interests, such as including a clause to protect you if any major issues with the house are discovered before closing.

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What is a Transfer on Death Deed (TOD Deed) and How Do Work in Washington State

A transfer on death (TOD) deed is a legal document that allows property owners in Washington state to transfer ownership of their property to one or more beneficiaries upon their death, without the need for probate court proceedings. This type of deed is a useful tool for estate planning, as it allows property owners to ensure that their property will pass to their chosen beneficiaries in a timely and cost-effective manner.

When a TOD deed is executed, the property owner retains full control over the property and can sell, mortgage, or otherwise dispose of it during their lifetime. However, when the property owner dies, the property automatically transfers to the beneficiaries named in the deed, without the need for court approval or the involvement of an executor or administrator.

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Using a Quit Claim Deed to Transfer Property Ownership in King County, WA

Transferring property ownership in King County, Washington using a quit claim deed is a relatively straightforward process, but it's important to understand the implications of using this type of deed before proceeding. In this blog post, we will explain what a quit claim deed is, the steps involved in transferring property ownership using a quit claim deed, and the potential risks and benefits of using this type of deed.

A quit claim deed is a legal document used to transfer ownership of a property from one person to another. Unlike a warranty deed, which guarantees that the person transferring the property (the grantor) holds a valid title to the property and will defend against any claims to the title, a quit claim deed makes no such guarantees. Instead, it simply transfers whatever interest the grantor has in the property to the person receiving the property (the grantee).

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New Eviction Laws for King County, Washington in Response to COVID

Eviction laws in King County, Washington have recently undergone significant changes to protect tenants during the COVID-19 pandemic. These new laws are designed to prevent landlords from evicting tenants for non-payment of rent and to provide financial assistance to those who are struggling to pay their rent due to the economic impact of the pandemic.

One of the most significant changes to eviction laws in King County is the temporary ban on evictions for non-payment of rent. This ban, which went into effect on March 18th, 2020, prevents landlords from evicting tenants who are unable to pay their rent due to the economic impact of the pandemic. This ban applies to both commercial and residential tenants and will remain in effect until the governor's emergency proclamation ends or until December 31, 2021.

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