In the News

Starting July 1, 2024, Georgia has a new type of deed. Georgia Code §44-17-1 through §44-17-7 prescribes a new type of deed known as the transfer-on-death deed.  This is different from a deed that conveys title to people as joint tenants with right of survivorship in that the grantee has absolutely no ownership rights until the grantor passes away.  This means that the grantee does not need to be present to sign any future loan documents or sales documents.

The transfer-on-death deed is void if the grantor conveys title to someone else. This new deed helps transfer title at death without going through probate, plus it keeps the ‘step up’ in value heirs get when inheriting property.  The ‘step up’ in basis increases the tax basis of the property to the value of the property at the time it is inherited.  This is very helpful in lowering the tax liability for heirs when inheriting property. 

The owner may also revoke the transfer at any time by signing a revocation and recording it in the real estate records.  The tricky part is that the revocation requires two witnesses plus the notary, like signing a will.   (As a side note, the transfer-on-death deed may not be revoked by a will.) 

The deed must be in a very specific form to be effective.  One possible issue is that the transfer-on-death deed requires the grantee to file an affidavit in the real estate records that provides the marital status of both parties on the deed, the legal description of the real estate, and a copy of the grantor’s death certificate as verification that the grantor has passed away. This affidavit must be filed within nine months of the grantor’s death.  If the affidavit is not recorded, then the real property becomes part of the estate of the deceased owner and the transfer-on-deed is useless.  This extra step will require the grantee to know about the deed and the requirements to receive title to the property.  This is not something most people will know to do. 

The transfer-on-death deed is not a comprehensive estate plan.  The deed must be in a very particular form to be valid.  The grantee has the responsibility to file an affidavit in the real estate records to claim ownership of the property upon the grantor’s death, which could be 50 years in the future. For estate attorneys, or anyone probating an estate, the first step in probating an estate should be a title search to see how title is held and if the deceased filed a transfer-on-death deed.     

John C. Bennett is a real estate closing attorney and owner of Origin Title and Escrow, Inc.. Since 2003, Origin Title has handled real estate transactions – purchases, refinances, reverse mortgages – quickly and professionally. There will be no surprises, nothing misunderstood. Title searches are thorough and well-reasoned, to avoid unpleasant surprises later down the road. Calculate your closing costs in Georgia or Florida using our calculator or contact Origin Title using this form.

Remember the company that was filing ‘Memorandum of Homeowner Benefit Agreements” to encumber real estate for 40 years? 

After several lawsuits, criminal investigations, and states passing laws banning the practice, MV Realty has filed for Chapter 11 bankruptcy.

In Georgia, after January 1, 2024, the Memorandums will have no effect on title and can be ignored in a title search. 

It’s not clear what will happen to the existing claims that MV Realty has on thousands of individual homes as a result of the bankruptcy filing. 

A Chapter 11 filing allows a company to continue doing business as it restructures its debts. This does not mean that MV Realty is completely out of the picture, though. 

John C. Bennett is a real estate closing attorney and owner of Origin Title and Escrow, Inc.. Since 2003, Origin Title has handled real estate transactions – purchases, refinances, reverse mortgages – quickly and professionally. There will be no surprises, nothing misunderstood. Title searches are thorough and well-reasoned, to avoid unpleasant surprises later down the road. Calculate your closing costs in Georgia or Florida using our calculator or contact Origin Title using this form.

Maybe you have seen or heard the commercials for services that charge a monthly fee to monitor real estate records. These monitoring services are expensive and vague as to the solutions they provide if anything is ever found.  

Fulton and Dekalb counties have been offering real estate monitoring services for a few years, but now monitoring has become available in every county, thanks to the Georgia Superior Court Clerk’s Cooperative Authority (“GSCCCA”).

Under their new Georgia Filing Activity Notification System (FANS), an owner may sign up to receive an electronic notification via text or email about filings that match the criteria set by the owner.  The most common criteria would be the person’s name and county.  The service is free and can give homeowners quick notice of any fraudulent filings being submitted under their name.  

You will only need a mobile phone number or an email address to sign up.  Here is the link to get started: https://fans.gsccca.org/ . 

Please note that registering is not enough to start generating notifications. As you register, continue to the next step and create a name notification request to activate the search. 

Notification requests expire after one year, so you may need to mark your calendar to reactivate it annually.

John C. Bennett is a real estate closing attorney and owner of Origin Title and Escrow, Inc.. Since 2003, Origin Title has handled real estate transactions – purchases, refinances, reverse mortgages – quickly and professionally. There will be no surprises, nothing misunderstood. Title searches are thorough and well-reasoned, to avoid unpleasant surprises later down the road. Calculate your closing costs in Georgia or Florida using our calculator or contact Origin Title using this form.

Since 2003, Origin Title and Escrow has performed thousands of closings. Our team understands the concerns and the interests of every party at the closing table. 

Real estate agents and buyers alike want to know that when they contact a closing attorney, they will reach someone who can answer their questions. That’s who we are at Origin Title, we are a centralized system with information and answers. Our office is made up of two attorneys, a paralegal and an office administrator. We also have longstanding relationships with title underwriters to get issues resolved sooner. 

Working with Origin Title, there will be no surprises, nothing misunderstood. The work we do is thorough and well-reasoned, to avoid unpleasant surprises later on. 

Due to the pandemic, closings and signings have been facilitated via video. Georgia has put two separate emergency orders in to place to accomplish this.

Georgia is an “attorney state”, meaning that an attorney is required to be present when signing legal documents such as a deed.  The emergency order issued by the Supreme Court of Georgia allows an attorney to be legally present via video.  This was not the case pre-pandemic. 

The second emergency order is from the Governor that allows an attorney to watch a person sign via video and notarize that document once the original is received.  Georgia does not have remote notary laws yet, so without the Governor’s order, the attorney cannot legally witness and notarize a document unless they are physically present during the signing. 

Origin Title & Escrow always keeps the best interest of our clients in mind.  We will continue to adjust our processes to match the orders issued by the state.

Real estate transactions typically involve the execution and delivery of written documents that must be notarized in order to be recorded. In response to the COVID-19 pandemic, many states have put in place emergency measures to assist notaries in carrying out their duties. Georgia’s emergency order has been extended through July 12, which means Origin Title and Escrow can assist in notarizing and witnessing documents via video conferencing. 

During this process, documents are physically sent to the buyer or seller, they sign during the video conference and then send the documents back for the notary to stamp and witness. Keep in mind that a borrower or seller should not leave Georgia during the transaction because a notary public’s power is confined to a specific state.

During the state of emergency, Origin Title and Escrow, Inc can provide notaries, witnesses, and be the closing attorney via video conferencing.  As a buyer or seller, you can sign your closing documents with the notary, witness, and attorney present via video conferencing. Normally, the closing attorney also acts as the notary or witness. 

You will need an internet connection, web camera, and microphone. Most phones and tablets have everything necessary. 

Signors will receive the documents via FedEx or hand delivery before the scheduled signing time. We use Zoom pro and we share our screen to go over each document.  We will send the Zoom invitation the day of closing.  Please do not sign any documents before the video conference. 

Origin Title will provide blue pens and a return FedEx envelope and label to return the completed documents.  You will need to find the nearest FedEx drop box to deliver the completed signed documents.  Once we receive the documents, we will sign as the notary, witness, and closing attorney. 

Everything is still done with ink signatures, so this is not a true e-signing with electronic signatures. 

97% of home-buyers begin their search for a house online.  74% of people looking for a mortgage now find it online.  Less than 1% of people shop for their closing attorney online. 

This 1% is the main reason it’s important for closing attorneys to have a strong network of real estate agents that assist buyers. It’s also a big reason why home-buyers may not know what a company like Origin Title & Escrow actually does. 

Our website has plenty of information to educate buyers and sellers, but it also provides closing costs, allows people to request title and to schedule a closing.  We also have real live people clients can call with questions!