Property Deeds: Common Questions Answered

By Jean Vernon
Published on August 1, 1999
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ILLUSTRATION: WARREN GEBERT
Legal questions surrounding property deeds can be confusing and daunting, but we're here to help.

Does the concept of “finders keepers” apply to an old property deed? Land and law professional Jean Vernon has answers to your deed questions.

An Old Property Deed

Q. I have found a warranty deed for 81.60 acres of land. The land has changed hands, but without the warranty deed, for I have it … The deed states the land was sold in 1950 for $500. Does possession of an old deed determine ownership? Where do I stand?
–William F. McCulley, AR

A. Each time land is sold or transferred, the seller must prepare and sign a new deed naming the grantee who receives the land. Old deeds are no longer valid once the new deed is recorded. You have an interesting curiosity, but if the land has been transferred properly since your deed was executed, you don’t have any claim or title to the land.

Splitting Land Between Multiple Owners

Q. My family has occupied a tract of land in Kentucky since the mid 1800s. Currently, there are four remaining owners of the land: myself, a brother and two sisters. All of us share an interest in the entire property (approximately 395 acres), which is made up of several smaller tracts. We all get along and are not squabbling over the property. However, we all realize that joint interest is not in our best interests and would like to legally split up the property. We had the land appraised in 1991 and the results showed a wide range of values per acre. How do we begin getting a handle on a method for determining an equitable distribution? Simply splitting it up by total acreage would not seem equitable. Can a lawyer help, or do we need someone else?
–Fred Cooks, KY

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