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Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 42272
Experience:  Texas Attorney for 30 years dealing in real estate
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I bought my hose a few years ago paid closing cost 15 years

Customer Question

I bought my hose a few years ago paid closing cost 15 years to pay if off i paid a down payment now I have only couple years left but I want to just go ahead and pay it off my question do I need to pay closing costs again to make the deed to be on my name etc I leave in Georgia or what do I need to pay if I want to pay off the rest of the money owed buying from owner
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Ray replied 1 year ago.

Hi and welcome to JA. Ray here to help you today.Did you do this under contract for deed or was it regular deed, promissory note, deed of trust, do you have legal title here or just a contract.Some more information so that I may assist you today, thanks.

Customer: replied 1 year ago.
we have contract 15 years contract i only have the contract and expecting to get the ownership deed after i pay off the rest of the debt
Expert:  Ray replied 1 year ago.

So the owner has to pay for and give you a deed once you pay it off.He should give you completed deed and you record it in county deed records.They return it to you here once it is recorded.This should be sellers costs not yours.

Thanks for the follow up.

Expert:  Ray replied 1 year ago.

Free forms for you

Warranty Deed

Georgia, County of Hall

THIS INDENTURE, made this _____ day of ___________, in the Year of Our Lord Two Thousand and

______________, between _______________________________________________ of the State of Georgia

and County of

Hall (hereinafter called "GRANTOR"), and __________________________________________

of the State of Georgia and County of

Hall (hereinafter called "GRANTEE),

WITNESS: That the said GRANTOR, for and in consideration _______________________________, in

hand paid at and before the sealing and deliver of these presents, the receipt of which is hereby acknowledged,

has granted, bargained, sold and conveyed, and by these presents does grant, bargain, sell and convey unto

the said GRANTEE the following described property, to wit:

TO HAVE AND TO HOLD the said tract or parcel of land, with all and singular the rights, members and

appurtenances thereof, to the same being, belonging, or in anywise appertaining, to the only proper use, benefit

and behoof of the said GRANTEE, forever, in FEE SIMPLE.

AND THE SAID GRANTOR will warrant and forever defend the right and title to the above described

property, unto the said GRANTEE against the claims of all persons whomsoever.

WHEREVER there is a reference herein to the GRANTOR or the GRANTEE, the singular includes the

plural and the masculine includes the feminine and the neuter, and said terms include and bind the heirs,

executors, administrators, successors and assigns of the parties hereto.

IN WITNESS WHEREOF, the said GRANTOR has hereunto set his hand and seal, the day and year

above written.

Signed, sealed and delivered in presence of:

__________________________________ _______________________________

Unofficial Witness (Seal)

__________________________________ ______________________________

Notary Public (Seal)

My Commission Expires: _____________

Expert:  Ray replied 1 year ago.

Modify the county here for yours.

Customer: replied 1 year ago.
lease purchase is what we had so you are saying that i should not have to pay any costs once i pay off the rest of the money owed and the seller which is a person not a bank should be liable of any fees in other to get the deed done in my name
Expert:  Ray replied 1 year ago.

Thats correct you paid it off then they seller pays for deed and provides it to you for recording or he records it.Either way this is his cost not yours.Glad you are all paid off here.Thanks.

Customer: replied 1 year ago.
well i will meet him tomorrow we will go the the attorneys where we originally did the closing i want to be sure how this is supposed to be handled i hope he doesnt have other ideas i will hand him the rest and i will want to collect the deed on my name but i need to be ready to make sure i do not get taken advantage of
Customer: replied 1 year ago.
i come to tell you about it tomorrow and thank you for advising and just to make sure we are talking about georgia law
Expert:  Ray replied 1 year ago.

Sure you may want to ask about a title policy here too for your protection since you are paying it off.

Customer: replied 1 year ago.
What is tile policy in this situation ?
Expert:  Ray replied 1 year ago.

A title policy would protect you from any liens, back taxes, or title defects unknown to you.They pass with the property so you want to know if you have any title problems.A policy protects you, they ensure everything is paid for and also no liens or taxes you don't know about.It offers you protection that you are getting what you paid for here.

Customer: replied 1 year ago.
Ok that is interesting thank for advising I will ask about it to make sure
Expert:  Ray replied 1 year ago.

No problem good luck with closing.Thanks again have a great evening.

If you can positive rate it is always much appreciated.