Real Estate Legal Services
Penn Law Firm LLC provides a complete range of transactional real estate legal services. We provide legal advice to clients regarding real estate holdings and conveyances. We also assist clients with drafting, executing, and recordings deeds, easements, liens, deeds of trust, quitclaim deeds, and various other legal instruments that impact rights or title to real property in Maryland. We also assist clients in drafting commercial lease agreements and other commercial property instruments.
For most of our real estate transactional services we charge a simple, flat fee which is disclosed upfront. Fees for drafting, executing and/or recording real estate instruments vary.
Deeds
A deed is a written instrument the transfers title (ownership) of real property. There are various forms or types of deeds, including quitclaim deeds, warranty deeds, and special warranty deeds. They all basically do the same thing — transfer property from the “grantor” to the “grantee.”
Under Maryland law a deed must meet certain legal requirements. At a minimum, a deed must: (a) identify the grantor(s) and the grantee(s); (b) contain a description of the property; (c) clearly state the type of interest or ownership right in the property that is being conveyed.
Trusts
A trust is a legal structure in which property is conveyed into a trust, which is then managed by a “trustee” for the benefit of a third party who is called the “beneficiary.” Creating a revocable trust to hold title to real property is a common transaction in Maryland.
Easements
An easement is a legal document or instrument that gives another party the right to access or use real property for a specific limited purpose. For example, an easement might give your neighbor the right to construct a driveway across your property in order to access their property.
There are two different types of easements. Affirmative easements give the right to do something on the grantor’s land, such as travel across the land. By contrast, a “negative easement” gives the easement holder the right to block or prevent the grantor from doing something (e.g., building a fence that obstructs the view).
Mortgage / Lien
A lien is a legal claim against real property that must be paid off in order to transfer clear title. A mortgage is a type of loan that is secured by a lien on real property. In Maryland, most mortgage liens are created with an instrument called a “Deed of Trust.” If the borrower defaults on the mortgage, the lender can foreclose on the lien.
Leases
A lease is a legal document that conveys a leasehold interest in property. A leasehold interest is basically a right of use and possession of certain property without ownership. Our Maryland real estate lawyers can assist clients in drafting and negotiating commercial leases for business properties. We can also assist property owners with residential leases.