How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Maverick Your Own Question
Maverick, Lawyer
Category: Real Estate Law
Satisfied Customers: 6423
Experience:  20 years professional experience
Type Your Real Estate Law Question Here...
Maverick is online now
A new question is answered every 9 seconds

Does vt law require a realestate purcher to record the deed

Customer Question

does vt law require a realestate purcher to record the deed
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Maverick replied 1 year ago.

Welcome to Just Answer (“JA”)! My name is Maverick.

Note: (1) If you want legal advice, consult with a local attorney before acting or deciding not to act; information given here is for educational purposes only; (2) Most questions are answered within the hour; however, if I am not signed on, please allow up to 24 hours; and (3) Please assign a feedback rating so JA will compensate me. By continuing, you confirm that you understand and agree to these terms and to JA’s other site disclaimers.

Expert:  Maverick replied 1 year ago.

ANSWER: It is very risky for a buyer to not timely record a deed in order to avoid taxes. If the seller should incur a judgment or income tax liens, the seller's liens will automatically attach to all property to which the seller holds title. Since the deed records would still reflect the seller as the owner, the seller's debt liens may be deemed to attach to property even though your son now owns it. Also, an unscrupulous seller might sell the same property to a second buyer and skip town leaving the two buyer to fight out ownership issues.

So, technically he is correct. But the consequences are risky and eventually when the seller gets the new tax bill and finds out that your son has not recorded the deed, he will seek to sue your son for the amount that he has to payout in taxes on your son's behalf.