Hi i'm paula vincent johnson a louisiana civil law notary who specializes in helping families secure their legacies with powers of attorney wills small successions and real estate transfers subscribe to this channel to learn how you can use those documents to effectively remove barriers of communication with financial institutions medical professionals government agencies and others today i'll explain the basic differences between cash sales money changes hands acts of donation no money changes hands and quit claim deeds maybe the seller owns the property maybe they don't in a cash sale the seller agrees to sell transfer and deliver his or her rights title and interest in property to the buyer for a sum of money cash changes hand when you are purchasing a piece of properly i think it's a good idea to always have a title examination done the title exam will reveal any mortgages liens judgments or other recorded claims on property if you acquire property without a title examination you are accepting responsibility for any liens or encumbrances on that property you might find yourself in a situation where you're forced to pay off claims and you may not be able to get reimbursement from the seller in an active donation the donor the current owner transfers his or her rights title and interest in property to another person called the donee no money changes hands it's a gift but it is a transfer of ownership with warranty of title and any rights the donor may have against former owners most of my clients fall into that category someone wants their name taken off of property because they either don't want to be bothered with it anymore or they just feel that a particular person should own it outright i assist a lot of families...
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About Act Of Donation Louisiana
The Act of Donation in Louisiana is a legal document that allows an individual or organization to donate property, money, securities, or any other valuable asset to another individual or organization. This act is a legal way to transfer ownership of an asset without any compensation. This document is typically used by individuals or organizations who want to gift their assets to a family member, charitable organization, or any other person or entity. The Act of Donation is also commonly used to make estate planning and tax planning decisions. Overall, the Act of Donation is an important legal document that helps individuals transfer their assets to others without any monetary compensation. Anyone who wishes to donate any valuable asset can use this document to do so in a legally recognized way.
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