If the amount of "consideration," or what was given for the real estate (often cash) is a token amount, determine if there was a relationship among the people involved.
Transfers of significant pieces of real estate for token amounts are often done to clear up title among relatives. Not always, but frequently.
Check out the relationships among those who transfer land for little to no cash.
I didn't learn about "token values" and "other good and valuable considerations" until a few years ago. A pipe line went through my area and this was to keep all us neighbors from knowing how much money each received.
ReplyDeleteI've also seen this in some recent real estate transactions where all the lots in subdivisions were written this way.