New docprepper.com office… we’re moving!

Professional Escrow Resources and the docprepper.com office team are moving!

Our docprepper.com headquarters has a new location!

Our docprepper.com headquarters has a new location!

We are moving! And we’re lucky enough to have some great neighbors in the building, too… in fact, it’s the Security Title Plaza!

 We couldn’t dream of a better spot. 

Now with more room to stretch our legs (and maybe get some bigger desks for our team members!) we’ll be more productive than ever.

 Our new address is:

Professional Escrow Resources
(docprepper.com)
3636 North Central Avenue, Suite #620
Phoenix, Arizona 85012

 We’re excited! Stay tuned for the open house…

Alaska Adopts Real Property Transfer on Death Act

Alaska’s Uniform Real Property Transfer on Death Act Signed Into Law

On April 23rd, 2014, Alaska Governor Chris Parnell signed Alaska’s Uniform Real Property Transfer on Death Act into law. Alaska is poised to join the 12 other states that have already adopted the Uniform Law, with an additional 11 states and the District of Columbia also having some version of the statute, making 25 national jurisdictions that allow real property owners to transfer their assets upon death, without their heirs having to go through probate. An additional 3 states have introduced legislation this year.

State Representaive Max Gruenberg (D – Anchorage)  introduced the bill (AK HB 60), which was passed unanimously by both the House and Senate and sent to the Governor’s desk for his signature. The bill is set to become effective as of July 21, 2014. Here’s what the bill’s sponsor had to say about it:

“The last thing a grieving family wants to deal with is a drawn out court process just to honor tMax Gruenberghe wishes of their deceased loved one…This legislation allows Alaskans to transfer property without expensive legal counsel by pre-arranging property transfers so their loved ones can work through the grieving process without the burden of unnecessary legal proceedings.”

Transfer on Death Deeds, also known as Beneficiary Deeds or Ladybird Deeds, are a valuable estate planning tool. While some estates are too complicated for a TOD, these documents allow for families to save thousands of dollars in legal fees, not to mention the emotional strain of the ordeal. Docprepper.com is happy to assist you in preparing and recording a Transfer on Death Deed! Call (855) DOC-EASY with any questions!

Metro Phoenix Economic Snapshot – Arizona 2014

Metro Phoenix Economic Snapshot

Arizona 2014

This comprehensive report on the current economic outlook of the Phoenix Metro market was penned by well respected experts Michael Orr (left) and Elliott Pollack (right) for our friends at Old Republic Title Company.

Check out the report here:  Metro Phoenix Economic Snapshot

Elliott Pollack

Michael Orr

Happy Veterans Day 2013!

From all of us here at docprepper.com and Professional Escrow Resources, have a safe and happy Veterans Day!

Using generic real estate forms may cost you a fortune

If it sounds like too good a deal, it probably is.

Boilerplate formsBeware of using generic legal forms (Robert Pears, Getty Images / October 23, 2013)

Beware of fill-in-the-blank forms

Benny L. Kass, Housing Counsel recently wrote an article for the Chicago Tribune we at docprepper.com found quite interesting! He points out the prevalence of downloadable, generic forms on the internet… and why using them isn’t always a good idea. Here’s a few excerpts from that article:

…I cannot recommend using boilerplate forms, even those that you can tailor to your particular state. Forms are created to deal with the most basic issues and do not consider specific situations. And forms cannot answer questions or provide advice.”

…You are considering entering into what might be the most expensive transaction of your life. Don’t rely on a form. Talk with a professional…”

We couldn’t agree more! If you need specific legal or tax advice you should always consult an attorney such as Mr. Kass. For general information, a Legal Document Preparer that specializes in real estate documents (like our experts at Professional Escrow Resources) can also provide you with some answers.

Transfer on Death / Beneficiary Deeds

The author also mentions the new trend of “Transfer on Death Deeds”, or Beneficiary Deeds as they’re known in States like Arizona:

…There is a relatively new concept that has been adopted in several states, called “transfer on death deed,” also called “beneficiary deeds.” This allows you, as property owner, to prepare a deed giving the property to whomever you name as your heir, and have the deed recorded among the land records where your property is located.”

We’ve been touting the benefits of these estate planning tools for some time. Check out our Transfer on Death / Beneficiary Deed services for Arizona, ArkansasColoradoDistrict of ColumbiaHawaiiIllinoisIndianaKansasMinnesotaMissouriMontanaNebraskaNevadaNew MexicoNorth DakotaOhioOklahomaOregonVirginia, and Wisconsin. As more States allow for this valuable tool, rest assured we’re doing what we can to encourage them along! And when they do come around we’ll be ready to assist you with the proper preparation, execution and recording of the instrument.

Time Share Nightmare

I can’t tell you how often we hear horror stories about timeshares! Here’s what one reader wrote in:

I am writing in response to a reader’s question regarding disposal of a time share. We had a Hawaiian time share from 2004 until 2011. The annual maintenance fees doubled during that time, making ownership much less attractive than when we initially made the purchase. After researching various ways to sell, donate or dispose of this asset, we determined that we could “deed back” the unit to the property at zero cost. We were able to take a deduction for this loss which resulted in a tax benefit nearly comparable to what we would have pocketed from a sale after commission and taxes. While all owners might not be in a higher tax bracket, I would recommend pursuing this option as it was relatively quick and painless and only involved contacting the resort and signing minimal paperwork.”

Sounds good, right? But that’s not always the case. Here was Mr. Kass’ reply:

Excellent suggestion, but it takes two to tango. You told me that the time-share developer agreed to take back the property. You were lucky. My experience is that most projects will not agree. And you cannot deed property to anyone unless the proposed receiver agrees to accept the property.” 

I can’t tell you how often we get requests to transfer a timeshare! Although every situation is different, we’re usually able to transfer your interest in a timeshare to whoever you like (so long as they accept it)!
Real estate forms can be tricky. Make sure you consult an attorney or certified legal document preparer like Professional Escrow Resources, CLDP #81407 for your real estate form needs.