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Warranty Deed in NC

Posted by: -Steve-
Posted on : 4/4/2014 11:21:45 PM

I am working through the paper work for my first Sub2 deal. Yea! I am completing the Warranty Deed. I am in North Carolina and in this state typical real estate closings and recordings require a closing attorney. Do you think I need to have an attorney complete the deed and record? Would prefer to do it myself.

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Re:Warranty Deed in NC

Posted by: WilliamGA Still Master of ALL I Survey
Posted on : 4/5/2014 8:41:40 AM

Hi Steve,

Congrats on your first sub2 deal!

That is going to depend on how NC specifies that it be done.

Are you a member of a local real estate club?

Most times, there will be an attorney hanging around that can answer those questions and at the least, experienced investors that can.

Unfortunately, attorneys don't want us to be able to cut them out of the cash they can make by doing these simple tasks and in some states, they have taken steps to prevent it in cases like these.

Find out what the actual LAWS are, not just "how it is always done" and act accordingly.

William Tingle
www.Sub2Deals.com

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Re:Warranty Deed in NC

Posted by: -Steve-
Posted on : 4/5/2014 4:14:00 PM

Thanks William for the reply.

I did some searching and found that if i have a "primary interest" then a non-attorney can prepare and record the deed. So this is a good thing.

Another quick questions: Is it Ok to only write the Trust Name as the Grantee and not include the name of the Trustee on the Deed? Is this what you do typically?

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Re:Warranty Deed in NC

Posted by: WilliamGA Still Master of ALL I Survey
Posted on : 4/5/2014 10:31:18 PM

Hi Steve,

Again, that will depend on your state laws.

Some states require the trustee to be named on the deed "as trustee of the XXX land trust" and some don't.

What I recommend is to form an entity who's only function is to act as trustee for all your trusts. This is what I do and it works out well.

William Tingle
www.Sub2Deals.com

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Re:Warranty Deed in NC

Posted by: -Steve-
Posted on : 4/6/2014 11:53:08 AM

Thanks again William,

I do have an existing LLC that I can use for the Trustee.

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Re:Warranty Deed in NC

Posted by: WilliamGA Still Master of ALL I Survey
Posted on : 4/6/2014 1:39:09 PM

No problem!

Good luck to you and congrats again on that first deal. They get easier as you go.

William Tingle
www.Sub2Deals.com

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