07 September 2011
Have You Considered the Consideration?
The consideration in a land transfer is the money or other item that has been used to pay for a piece of real property. If it is a token amount, such as $1, or "love and consideration," consider that there is a relationship among the buyers and sellers, even if a relationship is not stated. The relationship does not have to be stated for the document to be binding. And remember, the purpose of a deed is to transfer title to land, not leave a record of a family relationship.
Posted by Michael John Neill