Legal Question in Real Estate Law in Georgia

Re: loan

It is safe to say that if you loan someone $60,000, it would be a very poor decision to not have a qualified real estate lawyer (not one who merely claims to be that for a fee) handle the entire transaction before you hand over the money. What has your title search revealed about any liens already on the property?

Re: loan

I am a real estate attorney and a title insurance agent. Handling the transaction that you suggest without involving an attorney is considered the unauthorized practice of law in Georgia. Therefore, even if you do use the document that you suggest with all of the proper procedures for doing so, it will be unenforceable in Georgia because an attorney was not directing the closing from beginning to end. The fee for closings is low compared to the risk that you are taking. Call me if additional information is desired.

Re: loan

I will add that YOU loaning money to another person and having that person sign the appropriate documents giving you a security interest, then you taking it to the courthouse to file, is NOT practicing law and it does not require a lawyer. In fact, it is a common occurrence for people who know what they are doing. However, since you do not, it is well worth a small fraction of the loan amount to hire a qualified real estate lawyer to handle it. One in the county in which the property is located may be more convenient, as they have convenient access to the county records.