One benefit of useing a licensed real estate agent in a real estate transfer is their knowledge of real estate law. While agents are not licensed to practice law, and are in fact prohibited from doing so, the experienced and knowledgable agent can recognize a red flag in the chain of ownership of real estate that signals time to contact an attorney.
One of the many times we see problems with owners selling thier real estate is when there has been a death in the family that effects the ownership interests of spouses and heirs. Many people think that the existing deed to the property determines how ownership changes, while others believe that a will makes the determination.
Realty Times has a recent article about the subject that is very informative. CLICK HERE to access the article. While the article is helpful in understanding some of the twists and turns of real estate ownership it does point out that each state has it's own laws. Because of this, if there is any question of who has an ownership interest it is time to consult a state licensed attorney.
If you have such questions, Lake Barkley Realty will be happy to provide you with names and numbers of local lawyers who are familiar with real estate issues.