A: A quitclaim deed conveys the sellers ownership interest in the property to the buyer with no guarantees of clear title to the property. In contrast, a warranty deed guarantees to the buyer that the seller holds clear title to the property. From a seller’s perspective a quitclaim deed is preferable in that the seller is not providing a warranty of clear title to the buyer. A warranty deed protects the buyer against title defects and is thus preferable to the buyer. If your buyer is getting a owner’s policy of title insurance, that would be sufficient to protect the buyer from defects in title.

A: In Ohio, a deed can be corrected either by re-recording the prior deed with corrections made directly on it, or by recording a new deed, called corrective deed. Correcting the legal description can all be achieved through a corrective deed.

A: The payment terms listed in the contract would be binding upon your business if you enter into the vendor agreement. Depending on who the vendor is, you may have the ability to negotiate the payment terms with the vendor. I'd be happy to assist you in the review of your vendor agreement and discuss what your obligations are and how you can make a counter proposal for payments.

A: A demand letter would probable cost between $100 and $150. However, if you have a tenant that is six months behind in rent, you're better off posting a 3 day notice to vacate and evict the tenant and get a paying tenant in the property. If the tenant hasn't paid in the past six months, it's unlikely the tenant will start paying now. You can always sue the tenant after you evict them (or even during the eviction process) but getting them out will allow you to place a paying tenant in your property.