Legal Question in Real Estate Law in Georgia

Warranty Deed

On a warranty deed, there is a section taht asks you to put int an amount of money? Is that where you put the amount you sold the land for? IE. That the said part______of the first part, for and in consideration of the sum of ___ Dollors in hand paid at and before the sealing and delivery of these presents.....


Asked on 12/27/02, 12:18 pm

2 Answers from Attorneys
Felisa Johnson Law Office of Felisa Johnson

Re: Warranty Deed

Generally ten dollars ($10.00) is usually inserted in the space that asks for a monetary amount. This is to show that some consideration passed between the parties, without revealing to the untrained eye how much was actually paid for the property.

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Answered on 12/27/02, 4:48 pm
Charles W. Field Charles W. Field, Attorney at Law

Re: Warranty Deed

This a carry-over from days long past in legal fields. Just insert $1.00, $10.00 or whatever. You most certainly don't want to reveal the purchase price.

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Answered on 12/27/02, 5:29 pm


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