So here’s a question (paraphrased) that was actually asked on a legal questions site recently –
“My father (kinda, not listed as such on birth certificate) wants to give all of his 150 acres and his very nice home to me before he dies. He wants to avoid taxes and probate fees. Can sell it to me for ‘$10 and other considerations’? What about a Quitclaim Deed or a ‘arms length transaction’? We don’t really know what to do but need to do it soon. how can we do this without paying a lawyer?”
My response, you can do it poorly and likely incorrectly. He is talking about hundreds of thousands of dollars in property and doesn’t want to pay a dime to make sure all is done well. And the consequences of getting wrong is that he might not get any of it.
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