What does “consideration paid release” mean regardinig a release deed?
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What does “consideration paid release” mean regardinig a release deed?
I am listed on a deed along with my mother and brother. I have been asked to release the deed solely to my mother. This document was signed, notarized and dated yesterday for a blank spot for me to sign. If I do so it will appear as though I also signed this document yesterday in front of a notary, of which I did not. It also states “consideration paid release”. What does this mean?
Asked on March 14, 2012 under Real Estate Law, Maine
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
When you sign the document you are writing about (assuming you do so) you will date the document and sign it before a notary public whose jurat attached to the document signed will be recorded with the county recorder's office where the property is located.
As to the release that you are signing, I have a hard time understanding what it is. However from what you have written it seems that you are releasing your ownership interest in the property to your mother for something of value where you will no longer be on title to the property.
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