Real Estate Deed Attorneys in Everett, WA
Question: I've worked out a deal with my neighbor to sell him five acres off my back lot. We have an agreement on the money and the area and we shook hands. Someone told me I have to write our agreement down. Do I? Why?
Answer: Any transfer of real estate must be in writing to affect the transfer or it is in violation of the Statute of Frauds and is considered invalid. Therefore, it is necessary to execute a real estate contract for sale and a real estate deed for the actual conveyance of the property to the buyer. It is also recommended that the deed be recorded in the county's public records where it is located so that everyone has notice of the transfer of ownership of the property.
An exception to the Statute of Frauds is when there has been partial performance of a contract to sell real estate. There are a number of factors that are considered in these types of cases and they are often litigated. This situation can be avoided by simply complying with the requirement for putting the transaction in writing.
Consult an experienced real estate attorney if you are considering buying or selling land and the requirements for doing so. The attorneys at Bell & Ingram, P.S. are experienced in working with real estate transactions, contact them today.
