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Published with permission from RISMedia.

In a typical real estate transaction, a warranty deed is used to transfer ownership. That means that the person selling the property owns it and has a right to sell it and that no third party has a lien against the property. A title search is conducted, and title insurance is purchased to protect the buyer.

A quitclaim deed transfers ownership of a property, but only what a person actually owns, if anything at all. If two people jointly own a property, one individual can transfer his or her ownership stake without affecting the co-owners stake. A quitclaim deed does not affect a mortgage on the property or the previous owners responsibility to pay it.

The document must include the location and description of the property, the names of the grantor and grantee, and the date of transfer. It needs to be signed by the appropriate parties and may need to be filed with the county clerk, depending on state law.

When Is a Quitclaim Deed Appropriate?
A quitclaim deed is an easy way to transfer property thats not being sold. For example, parents may want to transfer ownership of a house to a child or put the property in a living trust. A quitclaim deed can be used if someone owns a house, gets married, and wants to add the new spouses name to the deed, or if a couple who jointly own a home get divorced and one person will keep the house.

A quitclaim deed can also be used to correct a defect in the title. For example, a misspelled name, a missing signature, or a document that doesnt have information worded in a way required by state law can be amended using a quitclaim deed.

Why a Quitclaim Deed Should Not Be Used for a Sale
When property ownership is transferred with a quitclaim deed, no title search is performed and no title insurance is purchased. This is fine when property is being transferred between family members who know and trust each other and when no money is changing hands. A quitclaim deed is not appropriate for a sale because the buyer wouldnt know for sure that the seller even owned the property because no title search would be conducted. Someone could claim to own a house and sell it with a quitclaim deed, and the buyer could find out after handing over money that the seller didnt own the house in the first place.

Ask Questions Before You Sign Documents
A quitclaim deed is generally used to transfer property between family members without an exchange of funds or to correct a defect in the title. It should not be used in a real estate sale because of the risk to the buyer. Before you sign a quitclaim deed or any other document related to a real estate transaction, make sure you understand how it could affect your rights and interests. Consult a real estate attorney if you have any questions or concerns.

This article is intended for informational purposes only and should not be construed as professional or legal advice.

Published with permission from RISMedia.

These four home materials will look better with age.

Copper

Eventually, copper will oxidize, and its shiny dark orange appearance will develop a distinguished look with shades of blue and green.

Terracotta

When you decide to splurge on beautiful handmade terracotta for your home, you can rest assured that it will endure.

Reclaimed Wood

Scuffs and scratches that developed over time tell the story of its past life and eventually turn into an inimitable patina.

Natural Stone

When your stone takes on a weathered look, the texture will become smoother and develop a soft luster that many people find desirable.

Published with permission from RISMedia.

Home offices can be hubs of productivity for business owners and telecommuters alike. However, an office space that isnt designed and equipped for optimal results can lead to distraction, inefficiency and frustration. So, how can you create the ideal home office?

Choose Your Spot
First, youll have to determine the best place to set up shop. If space is limited, you might not have a choice about where to create a home office. Optimally, youll want a separate, spacious room that provides privacy, especially if you share the home with family members or roommates. Try to be away from high-traffic zones, such as the kitchen and living room, which are bound to be noisy and distracting. Separating your work space from your living space will also help you stay focused and avoid overworking after office hours.

Stay Dedicated
Even if you cant create an office in a separate room, establish a dedicated works pace and set some ground rules for other household members in order to protect your area and materials. To avoid losing work on your office laptop, for example, let children know your computer is for business only. If youll be using a land line for your office phone, consider getting a business line separate from your home one.

Get Comfortable
Because youll spend hours each day in your home office, staying comfortable is critical. Not only will you avoid minor aches and pains, but you can also reduce your risk of long-term health effects, such as back issues and carpel tunnel syndrome. Investing in a pricier, ergonomic chair is worth every penny, and consider installing a pull-out keyboard tray. To avoid sitting for extended periods, you could also buy a stand-up desk.

Be Prepared
Make sure you have all the office equipment youll need, which might include a copy machine, printer, scanner and, of course, a reliable computer with proper software. Youll also likely need a fast internet connection, and dont overlook smaller office supplies, such as Post-it Notes, scissors, paper clips and pens.

Decorate
Like with a work space at a company building, youll want to personalize your home office. Incorporate photos, paintings, plants or other personal touches. If you plan to have clients or co-workers visit, though, make sure your office looks professional by not going overboard with decorations.

A rooms color can impact a persons mood, so consider which color you should paint your office walls. Some designers suggest soothing hues like seafoam green to keep you relaxed and decrease stress, while others suggest bold colors like red to keep you alert and boost productivity. Test out a few colors to see which works best for you. You can also mix it up by painting or designing one focal wall differently.

Light the Way
Improper lighting can lead to eye strain, headaches and fatigue. Make sure you have plenty of overhead light and task lighting”i.e., desk lamps”and try to avoid fluorescent bulbs. If possible, set up your work space where you can take advantage of a windows natural light.

Avoid Clutter
Keep your office clean and organized to maintain peak performance, avoid losing papers and limit work frustration. By using helpful products, such as filing cabinets, pencil cups and desk trays, youll know where everything is. Remember, less time searching for an item means more time focusing on work.

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There are some obvious things that can hurt a credit score: paying your bills late, using too much available credit in proportion to your income, and defaulting on a loan. Some other financial transactions, however, don’t affect a credit score. You may even be surprised by them.

Here are five things that don’t affect a credit score, which is something you want to continue improving so that you’ll have access to the best mortgage rates and terms:

Income
Creditors and lenders obviously want you to have an income, and information about your employer may be listed on your credit report, but your actual income isn’t reported as part of a credit score.

Your income will be used to decide how much you can afford to borrow, but a high salary won’t boost your credit score, and a low salary won’t hurt it.

Overdrafts
Overdrawing your bank accounts can be costly, but they won’t hurt your credit score as long as you clear them before they go to collections.

If your account remains overdrawn for weeks and the bank sends it to a collections agency, you can expect your credit score to be dinged. It’s not the overdraft account that’s causing the credit score to drop, but the fact that it went to a debt collection agency.

Missed Insurance Payments
A credit score can be used by an insurance company to calculate your insurance premium, but your insurer won’t report your insurance premium payments”whether on time or late”to credit bureaus.

If you miss just one insurance payment, your insurance company could cancel the policy entirely or until payment is made. But it’s unlikely they’ll send it to a collections agency.

Checking Your Own Credit
You can check your credit report or score as much as you want without being penalized for it. Start at AnnualCreditReport.com for a free report each year from three of the major credit reporting agencies.

If a lender checks your credit score, such as when applying for new credit, that will likely hurt a credit score, though only a little and not for long. Too many queries in a short time could drop it a little more.

Credit Counseling
If you’ve sought help from a credit counselor to help manage your credit card payments, it may show up on your credit report. It won’t, however, hurt your credit score.

As long as your creditor is getting your payments on time”either through you or the credit counselor”the fact that you’re getting credit counseling won’t hurt your score. But if the payments arrive late, expect to see your credit score drop.

Published with permission from RISMedia.