Real Estate Law

The term “Real Estate” is simply defined as: land – typically including all improvements (buildings, ponds, driveways, tiling, etc) located upon it. Real Estate law includes a wide variety of issues, including, conveyances and transfers of real estate, title checks, easements, notes and mortgages, foreclosures, real estate tax concerns, landlord/tenant issues, and water rights.

Putman Law Offices, in conjunction with Armour Title Services, offers a full spectrum of options in handling all real estate needs. From purchase agreements to closings, and every step in between, Attorney Shaun Putman has the necessary expertise and experience to properly handle all aspects of your sale or purchase of real estate. If you have a real estate issue, please contact Putman Law Offices at: (419) 238-2200.

Buying a home or any other piece of real estate is a major financial event. Cutting corners to save a relatively small amount of money is certainly not advisable! A real estate attorney such as Attorney Shaun Putman can help a purchaser in many manners:

1) Performing a Title Check. A title check is a process where an attorney reviews the title (ie – ownership) history of the subject real estate to ensure that it is free from any negative issues, and to give peace of mind to the purchaser that the real estate is being purchased with good, marketable title. A title check not only looks at the historical transactions involving the real estate, but also at any liens, encumbrances, judgments, etc. that may have a negative effect on the real estate – such as the purchaser’s ability to obtaining financing or sell the property at a later time. If defects are discovered, Attorney Shaun Putman can also detail what the next steps are to clear the defects.

2) Preparing or Reviewing a Purchase Agreement. A properly-worded Purchase Agreement protects both the Buyer and the Seller, and is a very important aspect to any real estate conveyance. Purchase Agreements will set forth obvious items such as the real estate being conveyed and the purchase price. Purchase Agreements, if drafted with the required care and skill, will also address less obvious items: how are accrued real estate taxes being paid; what are the terms of the purchase (length of time, interest rate, etc); who will cover the real estate with insurance during the pendency of the sale, and what will happen to the property and insurance proceeds in the event something catastrophic happens during the pendency of the sale; which party will pay closing costs, conveyance fees, recording costs, etc.

3) Determining how a Client should take title to real estate. The manner in which you take title to real estate can have serious consequences. If you are married, should you take title jointly with rights of survivorship? Is a life estate advisable? These, and many other questions, can be discussed with Attorney Shaun Putman.

4) Aiding in the Closing Process. Closing on a real estate transaction includes multiple legal documents that will be signed by the buyer, seller, or both. Each document carries significant legal weight. Having Attorney Shaun Putman review these documents prior to the closing helps ensure that you are protected in all aspects.

A Quit Claim Deed is the type of deed where the seller/grantor simply conveys whatever interest he/she has in the real property, without giving the buyer/grantee any guarantees or warranties as to the nature of title to the property. In other words, the seller/grantor is not warranting that the title he/she is conveying is clear or marketable. These deeds are often used in a divorce/ dissolution context, or when parties are deeding real estate into their trust.

A Warranty Deed is a different type of deed. Here, the seller/grantor is promising (or warranting) the buyer/grantor that the title is free of liens, unencumbered, good and marketable title. If, after the transfer, a lien or encumbrance is found, the seller/grantor must take all necessary action to clear the title at his/her own expense. Warranty Deeds are the more common type of deed in Ohio.

There are a number of other types of deeds and instruments of conveyance as well. Please call Attorney Shaun Putman at (419) 238-2200 to determine what type of deed fits your situation.

Simply put – the answer is a definite YES! There are a number of ways to own real estate in Ohio. All can have a direct impact on your estate plan. For example purposes only, let’s say a Husband and Wife receive their unencumbered home through a deed conveying it to them as tenants in common. If Husband dies first, his ownership interest in the home has to go through his estate and likely Probate Court before it can finally be transferred to Wife to allow her to own it entirely. This can be costly and a time-delayed process. If, on the other hand, Husband and Wife received their home through a deed conveying it to them with rights of survivorship, a completely different course takes place. If Husband dies first, a simple Affidavit with Husband’s death certificate is recorded, and Wife now owns the home outright. That simple change in deed avoided probate, and the related costs and time-delays.

If a trust is part of your estate plan, conveying your interest in real estate may be a crucial part of maximizing the benefits offered by your trust. On the other hand, you may include the concept of a life estate in your estate planning measures. Or you may wish to include a Transfer-on Death designation on land through your estate plan. A great first step towards deciding how your property should be titled is calling Attorney Shaun Putman at (419) 238-2200.