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Hi; My goal is to provide you with great service - if you have any questions during our chat, please ask! I'll do my best to ensure your satisfaction! Can I get some more information? I'm not sure I understand exactly what you are after.
what info do you need to have?
I'm thinking you are referring to an irrevocable trust, not an irrevocable deed? And "intervivos" means living, so generally it would not require a grantor's death in order to become effective.
OK. I am referring to a deed of gift, and the way I have read some examples, it sounded like it only took affect upon the death of the grantor.
So, if the ded of gift is signed, the property transfers to the grantee, correct?
OK, that makes more sense. Thanks! The gift deed takes effect when it is given to the recipient. Irrevocable means it can't be undone.
excellent. then is it the norm to have two witnesses and for it to be notarized?
That varies by state. Let me double check.
There are over 50 statutes addressing this, so give me a moment. I'll be back!
OK; thanks for your patience. It needs to be notarized, but witnesses are not required. VA 55-113.
great. thanks. I think that does it.
Let me verify actually, because in most states when there is no consideration there should be witnesses. Let me check one other source.
Interestingly enough all of the forms have the signature line for 2 witnesses to sign, but I can't find a statutory requirement. If you don't mind hanging on (you can check back later if you'd like) I would like to review the codes in more depth.
I will hang here.
Thanks so much. OK, that's why I had problems. The statute is accessible here: http://statutes.laws.com/virginia/title-55/chapter-4/55-48 and it refers to witnesses. So while I cannot find a statute that states 2 witnesses are required, the reference to the presence of witnesses in this statute along with all the forms that reserve a spot for 2 signatures, plus a notary, would indicate that you would want 2 witnesses and the notary.
§ 55-48. Form of a deed.
Every deed, corrected or amended deed, deed of release, or memorandum oraddendum to any of these instruments, including those with vendor's liens,shall name in the first clause each grantor and each grantee under whosenames the instrument is to be indexed as required by § 17.1-249 and may bemade in the following form, or to the same effect: "This deed, made the . .. . . . . . day of . . . . . . . ., in the year . . . . . . . . . ., between(here insert names of parties as grantors or grantees), witnesseth: that inconsideration of (here state the consideration), the said . . . . . . . .doth (or do) grant unto the said . . . . . . . ., all (here describe theproperty, including the name of the city or county in which the property islocated, and insert covenants or any other provisions). Witness the followingsignature and seal (or signatures and seals)."
OK. that clears that up.
thanks so much!
You are welcome. Thanks for waiting for your information - I just wanted to verify.
I appreciate that.
have a great evening.
Thanks! (some people get impatient so I do value your patience). You too!
Patience Grasshopper, as I always say.
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