Basics of a Sample Modification Form for Deed
What is meant by Sample Modification Form for Deed?
Deeds are produced each time a business entity or a person acquires some interest in production. In United States, the deed needs to get recorded by local authority where the property is located, i.e. recorders or county clerks.
Modification to deed is needed in below mentioned cases-
- Selling home
- Buying home
- Ownership transfer to trust
- Getting divorced
- Getting Married
- Refinancing mortgage
- Gifting home
- Taking equity on home
Property deed –
The dead modification form is also known as dead rectification form.
Below are the details that a sample Modification Form for Deed must include-
- The title of letter should be ‘Deed of Rectification’.
- The top line goes along the lines ‘The deed of rectification is being executed on date _____________ between party A, residing at Property Address, here and after referred to as VENDOR/RECTIFIER and party B, here and after referred to as PURCHASER.
- Next part is the agenda being rectified. For instance, let us assume that the property survey number was incorrect in the original deed called principle deed.
- The property was originally sold by vendor/rectifier in purchaser’s favor by sale deed dated __________, with registration number _____ referred to as principle deed.
- Whereas survey number was incorrectly typed
- Current market value of property
- Initials and signatures of vendor/rectifier and purchaser
- Signature of a witness in whose presence vendor/rectifier and purchaser have underdone the formalities.
Hope now the basic concept for the modification form for deed is understood.