My brother & I are joint owners of property in Union Co, GA. He wants me to buy him out of his half. Is all that's needed for this transaction a quitclaim deed & transfer of money before a notary? If not, what else is required? Thank you.
2 Answers from Attorneys
Your brother will need to file a Form PT-61 with the Union County land records office and pay the fee. When you execute the quitclaim deed, you must do so before a notary AND another witness (preferably an independent witness). Your brother will also want to record the deed in the land records office. Best advice - Hire a lawyer for a few hundred dollars and have it done for you and right the first time. Regards,
The above is for informational purposes only and does not create an attorney client privilege.
The deed needs two witnesses (not just one). You also need a PT-61, recording fees and real estate transfer taxes. And of course the deed needs to be properly worded.
If there is money owing on the property, a deed may cause the lender to foreclose.
Since a lawyer can do this very cheaply, don't chance a problem.