Everything You Need to Know About Deed Vesting

When purchasing a property, one of the most important decisions you’ll make is how you want the property’s title to be held. This decision is known as deed vesting, and it determines who legally owns the property and how it will be transferred in the future. There are several different types of deed vesting, each with its own advantages and disadvantages. In this article, we’ll explore the most common types of deed vesting.

Sole Ownership

Sole ownership is the simplest type of deed vesting, where the property is owned by one person. This is a common option for single individuals who are the sole owners of a property. When the owner passes away, the property will be transferred to their heirs through their will or state law.

Joint Tenancy

Joint tenancy is a type of deed vesting where the property is owned by two or more people. In this type of ownership, each person has an equal share of the property. When one owner passes away, their share of the property is automatically transferred to the surviving owners. This process is known as the right of survivorship. Joint tenancy is a popular choice for married couples or business partners.

Tenancy in Common

Tenancy in common is another type of deed vesting where the property is owned by two or more people, but each person has a separate and distinct share in the property. Unlike joint tenancy, there is no right of survivorship. When one owner passes away, their share of the property is transferred to their heirs, not the other owners. Tenancy in common is a common choice for friends or family members who want to own a property together.

Community Property

Community property is a type of deed vesting that is recognized in a few states. In this type of ownership, property acquired during marriage is owned equally by both spouses. When one spouse passes away, their share of the property is transferred to the surviving spouse. Community property is a popular choice for married couples who want equal ownership of property acquired during their marriage.

Living Trust

A living trust is a legal document that allows you to transfer your property to a trust while you’re still alive. This type of deed vesting can help avoid probate, which is the legal process of distributing a person’s assets after they pass away. When you pass away, the property is transferred to the beneficiaries of the trust without going through probate. A living trust is a common choice for people who want to avoid probate and simplify the process of transferring their assets to their heirs.

In conclusion, choosing the right type of deed vesting is an important decision when purchasing a property. Consider your situation carefully and consult with a real estate attorney or financial advisor to determine which type of vesting is best for you. By selecting the right type of deed vesting, you can ensure that your property is transferred smoothly and according to your wishes. Contact us today to review your deed preparation!

May 6, 2023 Comments Off

Interview – From Dream to Reality: How Dewitt Found His Perfect Piece of Land with Nunn Land Sales

with:Matt Nunn

In this video, we sit down with Dewitt, a happy customer of Nunn Land Sales, to discuss his experience buying land from us. Dewitt shares how he found us and what attracted him to the property he purchased. He also talks about the ease of the buying process and how it feels to be a land investor. Finally, Dewitt gives his advice to anyone considering buying land from Nunn Land Sales.

If you’re looking to invest in land and want to hear from someone who’s had a positive experience with us, be sure to watch this interview with Dewitt. We hope it inspires and encourages you to take the leap and find your dream property with Nunn Land Sales!

March 15, 2023 Comments Off

Why You Should Buy Land on Owner Financing

with:Matt Nunn

Investing in land can be a smart financial move, but finding the right financing option can be a challenge. That’s where Nunn Land Sales comes in. Nunn Land Sales offers owner financing options for land purchases, which can make buying land more accessible and affordable for many investors. Here are a few reasons why you should consider buying land on owner financing with Nunn Land Sales:

Reason 1: Flexibility

One of the biggest advantages of buying land on owner financing is flexibility. Nunn Land Sales offers a variety of financing options that can be customized to fit your unique needs and financial situation. This means you can choose a payment plan and timeline that works for you, which can help reduce financial stress and make land investment more accessible.

Reason 2: Simplicity

Buying land on owner financing with Nunn Land Sales is a simple and straightforward process. Unlike traditional lenders, Nunn Land Sales does not require extensive credit checks, background checks, or complicated application processes. The checkout process takes less than one minute, and your contract will be delivered in 24 hours! This means you can get approved quickly and start enjoying your land investment sooner.

Reason 3: No Prepayment Penalties

Nunn Land Sales does not charge prepayment penalties, which means you can pay off your land purchase early without incurring any extra fees. This can help you save money in the long run and make your land investment even more profitable.

Reason 4: Accessible Financing for All Investors

Whether you’re a first-time investor or a seasoned pro, buying land on owner financing with Nunn Land Sales is a smart choice. Owner financing options can make land investment more accessible for investors with limited funds or credit history, and can also provide greater flexibility for investors looking to diversify their portfolio.

In conclusion, buying land on owner financing with Nunn Land Sales can be a great option for investors looking for flexibility, simplicity, and accessible financing. With customized payment plans, a straightforward application process, no prepayment penalties, and accessible financing for all investors, Nunn Land Sales makes it easy to invest in land and start building your portfolio today!

March 15, 2023 Comments Off