Legal Question in Real Estate Law in Wyoming

Re: Transfer property from 5 people to 1

An easy solution to your problem, assuming all of the other owners of the property agree, would be to have all of the other owners convey their interest in the property to you in return for whatever consideration you may have promised them. Such an agreement should be formalized in a written document to ensure enforceability. In order to accomplish the conveyance, you would need to prepare a deed, warranty or quitclaim, from the other owners to you, will need to get the deed signed and notarized by each of the parties conveying their interest in the property to you, and will need to record the deed.

There are a number of issues that can complicate such a transfer. For example, if any of the other owners are married special accommodations may be required to ensure a valid and complete transfer.

Given the number of people involved and the possibility that complications may arise, I suggest that you hire an attorney to be sure that the work is done properly. For a transaction of this nature, an attorneys fee should not be really large. I would be happy to discuss this with you if you would like to call me at (307) 632-0132.

However, there are alternatives to hiring an attorney. You could call a title company and ask them to prepare the documents. You may find that a title company's fees are comparable to an attorneys fee.

Another alternative, although not one I would necessarily recommend, would be to obtain a warranty deed form and complete the form, get it signed and recorded. Most office supply stores carry these forms and there are a number of computer programs that will prepare deeds for you. One downside to these forms is that they are very generic, may not comply with the requirements of Wyoming law, and you customize them at your own risk.

Hope this was helpful. Let me know if I can be of further assistance.

Eric Lundgren