Unlocking eSignature Legitimateness for Warranty Deed in Australia

How to eSign a document: e-signature legitimateness for Warranty Deed in Australia

- Well hey there, this is Seth and in this video I'm going to take you through the process of how to put together a warranty deed and a quick claim deed. If you know anything about deeds, those two types of deeds are actually very very different from each other but in terms of the actual information that has to go into the document, it's fairly similar across both of them. Creating a deed is actually a fairly simple thing just in terms of what information you have to put in there and how to put it all together so if that's something you're trying to do, I just want to show you the basics of how that is done and I'm gonna be showing you on a couple of blank templates that I've used in the past and I will say that these deed templates I'm going to be showing you do not work in all 50 states so don't just take these and start using them whenever you want to. A lot of states have different laws and statutes and just details that need to be baked into deeds based on whatever state your property's located in so make sure you're working with the correct template before you do this. This is really just showing the process on how to insert the information but once you do have the correct deed template to work with. I should also mention that there are few states in the US that actually require an attorney's involvement in the preparation of deeds in enclosing real estate deals so before you even do this, you may want to just verify that you're not working on a property in one of those states where an attorney's involvement is required. In terms in where to get your deed templates, there's a couple places I've worked with in the past. One of them is US Legal and it's basically just a huge library of deed templates for every state and a bunch of different transfer situations. With US Legal, you can just pay a one time fee and then download that template and then keep working with it again and again and again in that same state whenever you have that same type of transfer occurring in the future so that's kind of the nice thing about them is that you just sort of pay once and you can keep reusing it when that situation applies. Another site is called Rocket Lawyer and that's one that I've been using a lot more recently and Rocket Lawyer I think makes the process a little bit easier where there's just like a questionnaire where you answer questions and it will insert all that information automatically in a state specific deed template for you and then you can download that and use that in the future if you want to. There are plenty of other places you can get deed templates as well but those are just the two that I've had the most experience with but even aside from all that, in this example, I'm just going to be showing you in the examples that I use in my state and again, just remember, these don't work everywhere so I'm not saying you should use this exact language. Just make sure that you're working with the right template before you decided to put together your own deed. Before we get into this, I just want to explain right up front that a deed is a very very very important document. This is really the document that everything else revolves around when you're trying to close a real state transaction and buy yourself a piece of property. It's very important but at the same time it's usually not terribly complicated either. As you'll see the template that I'm using is just one page, it's a legal size sheet of paper. There's really not a ton, just some kind of boiler plate language on here. In this little tutorial, I'm actually going to be showing you how to fill out both a warranty deed and a quick claim deed because really, a lot of the steps are almost identical as far as filling out this section here and this section and this section, it's all kind of the same. The main difference has to do with this stuff here and then also the title of the document because that'll just explain to you in case you don't know. Both of these documents do indeed transfer real state from one person or entity to another person or entity, however, with a warranty deed, the seller is actually giving the buyer their guarantee that the property is free and clear of any encumbrances, any leans, any significant title issues. In essence, they're saying that if anything goes wrong with the title of this property or if you find out that the title actually wasn't clear, even though I said it was, you can come back and get me for it. Most people are comfortable doing that because when most people buy and sell properties, they're getting title insurance. A quick claim deed is a little bit different because when a seller signs a quick claim deed and signs it over to the buyer, they're not really making any guarantees of any kind. They're just saying, everything I own of this property, if anything, is now yours so just for example I can put together right now a quick claim deed for the White House and sign that over to and the reason that's okay and I can do that is because I don't have to guarantee anything to anybody. Even if I own nothing of something, I can still use a quick claim deed. You can kind of get an idea for the differences between a quick claim deed and a warranty deed because with the quick claim deed, you really don't have to stand behind anything and with a warranty deed you do have to stand behind it. Hopefully that gives you some context. Now just to get started, we're gonna show you how to fill out this warranty deed and we're gonna use a hypothetical buyer and seller and yes this is a fictitious scenario that I literally made up on the spot. Our seller is gonna be Ryan Gosling and our buyer is going to Brad Pitt and Ryan's is going to be signing this just on his behalf, as if he owns it in his own personal name and Brad is going to buying this in the name of his company, XYZ Properties LLC. We'll just get started here. We're gonna take Ryan's name and his marital status and we're gonna put that right here. There we go and then in this next part here we're gonna put his mailing address which is fictitious as well. Put that right here. Now in this document, Ryan is called the guarantor, that's cause he's the seller, he's the person who is granting the property and conveying it to the buyer. Go ahead and fill in Brad's information now and because Brad is buying it in the name of his company, we don't have to worry about his marital status stuff but we do have to talk about what the state this company is from. So we're just gonna call it a Louisiana limited liability company. We'll put that address in here as well. You'll notice that the buyer is referred to as the grantee because the other ones receiving the property and this particular property we're going to use this example here and this is an example that I pulled from AgentPro247, this is basically just a boiler plate template of what their property profile reports look like. If you follow me for any length of time, you probably heard me talk about AgentPro247 before. The reason I use it is because it's really inexpensive and very very easy to work with. Basically, pretty much any property in the United States, you can pull up these property of profile reports on them and these things are awesome because they just give you all kinds of information and details about the property you're looking at and really all were concerned about for the purposes of creating this deed is getting it this partial number and this legal description right here, right after where it says abbreviated description because we're gonna need that information to pull it out of here and paste it right here. So put the legal description there and we will get the personal number and put that right above it just like so and just so you know the legal description is probably the most important part of this entire document because this right here is the literal legal description of what is being bought and sold. As you can see, this legal description is really really short and simple. That's because the property itself that we're talking about is just this tiny little square lot but believe me I've seen legal descriptions that are paragraphs long. Just very very complex, complicated, and just so you know if you get this legal description wrong, it's kind of a big problem because it essentially changes the property that you're talking about here which is not a good thing. For this reason I usually suggest that you double check this legal description, don't just take this here as the gospel truth because it's just a very very important thing that must be correct in any deed so there's a couple of different ways that you can verify this. One would to be to actually open up the title search and I've actually got a separate video on title searches if you ever want to see that but really all you're looking for in your title search is what the actual prior legal description was. As you can see, in this example right here. Right here is the legal description and if you go down to the previous deed from years earlier, here's the legal description again. Be sure to compare and contrast what you're seeing in the past versus what you're actually putting in your deed itself and if what you're putting in your deed doesn't look anything like you've seen in the past then you're probably gonna want to figure out what's going on there. Another way to verify it would be to actually go to your county's website and try to look up the property in their system and see if they got any kind of a legal description. Legal descriptions can actually be very confusing to read. I mean, it took me years to figure out what I was looking at when I was reading these things and I'm actually still learning, believe it or not. If you need help in this area as you getting started you can feel free to talk to either an attorney or a title company or anybody like that because these people are experts at doing this kind of stuff and they can definitely help you make sure that you're getting this right. Once that's complete, whoop I'm sorry, I actually got to fill out this part up here too, I almost forgot. In this case, the city is right here, city, state, and zip. So we'll put that in here. City of... County is San Diego. State is California. So now we've got the city, county, state, we got the personal number, got the legal description all in there. The next step is to put in the consideration amount otherwise known as the purchase price and just for kicks we're gonna say that this is being sold for a $100. $100 and zero cents. Believe it or not, I've actually bought and sold a lot of properties for that amount, it's a whole another story. I'm also gonna put it here in numerical figures like that. It says the actual number and then proceed it which is by here acknowledged and that this here is just kind of boiler plate stuff. For the date we're just gonna put this first day of, we'll just call it July 2014 and sign it, sealed, and this is gonna be the actual sellers name so on this case it's gonna be Ryan Gosling. Fix that right there. Then down here you'd actually take this part to a notary and that notary will actually have to witness Ryan signing this and then they fill out all of this stuff for him. If the seller ever isn't sure where exactly to find a notary they can typically find a notary at any bank or credit union or title company or any place like that so all they'd have to do is go there and the purpose of a notary, just in case you didn't know, is basically just to act as proof that this actual person was the actual signer on this document and it wasn't somebody who came in and just tried to forge the signature so that's why that's important. Then down here at the very bottom, you actually have to say who prepared the document and then who the document should be sent back to after it's recorded at the county. Now that's pretty much how you do the entire deed. We've got all the information plugged in there. The only notable difference that I think you'd probably want to be aware of as far as how you format this is for instance, we were to switch this around and Brad Pitt was actually the person selling it and Ryan was the person buying it. In that case, Brad would be signing this but he'd be signing it on behalf of his company and when you're doing that, this little signature block gets formatted a little bit differently and let me show you exactly how that would look. It would look like this. Just like that and then we're gonna put by Brad Pitt its member, just like that. Then obviously all this stuff would be switched backwards basically so that XYZ Properties is listed first and then Ryan Gosling is listed as the buyer that kind of thing. But yeah, that's pretty much it. To fill out this quick claim deed, it's honestly almost the exact same steps, it's just that it includes a little bit less information and it's called a quick claim deed not a warranty deed so there's no warranty being given but the notary, all that stuff is the same. All the stuff down here is the same, it's just kind of different document with a lot of the same actions. It's worth nothing that every single state in the US has some varying laws and statutes and regulations and all that about how you write deeds so really what I would suggest, if you're going to be doing something in any other state, probably the best resource that I can share with you is this company here called US Legal and all you got to do is go right her where it says real state then down here where it says deed forms and right here is gonna show you all the different states in the country and just, for example, if you wanted to go to California there are all kinds of different templates here. Literally pretty much any scenario you could ever think of. Whether it's husband and wife selling it to a corporation or just look through and you'll see exactly what I'm talking about but all you got to do is find the state and which ever scenario you're working on and click on that and you can buy these things right here and you can actually see a preview of 'em before you get 'em. If you just take a look at this here. As you can see, this template looks a little bit different than mine. There's some differences in formatting and all that. Pretty sure some of the wording throughout here is going to be a little bit different but for the most part the actions that you have to take to fill it out are pretty much the same, they're just kind of some different wording throughout here based on the various laws and statues and rules in California so just for the record, it is actually extremely important to be working with the correct deed document that has the right wording and all that. If you want to make sure that you're working with the right thing, I would definitely suggest that you head over to US Legal, find the state, find the scenario that you're working with, check out the preview, and take a look at what you're going to be buying and once you know you got the right thing, go ahead and buy it and then the beauty is, you can use that same template over and over and over and over again as long as you're still working in that same state. So that's all for now, hopefully you found that helpful and again, just to be clear, I am not an attorney, alright? So do not take this as legal advice, this is just the exact way that I create my deeds which I have been doing for several years now and it's been working fine for me but definitely before you start doing this stuff, make sure you run this documentation by a legal professional in your area who can actually give you advice on your exact situation. Do not take this stuff as the gospel truth, I just wanted to show you a very quick overview of how I do it and the way it works for me. Thanks again for checking out the video, I hope you found it helpful and, yeah, let's stay in touch.