For Rebound Renters, a Few Things to Remember

You would do it exactly the same way as when you quitclaimed your name off the property. Your spouse would sign a quit-claim deed transferring ownership of the property to you and himself. You would get that document notarized and file it at your local recorder of deeds. You may have other forms to fill out, particularly in states that have taxes on the transfer of deeds, and you may have to pay a fee to your local municipality to transfer title of the home.

But in general, a deed transferring title from your husband to you and your husband, along with the other required forms, should be enough to get title of the home back in both your names.

My sister is building a house, and it will be finished soon. She plans on closing in mid-August. Can you tell me the name of a release form from the supplier that she should use?

I think the form you're looking for is a lien waiver, which is a legal form that builders and suppliers fill out indicating that they have been paid in full for a job and that they waive any right against the property they worked on or delivered materials to.

You have to make sure you get the lien waiver from the supplier before you pay him, or in exchange for the check, so you have some protection from a disreputable tradesperson who will take your cash and then put a lien against your property anyway.

Typically, you need not just one lien waiver, but a whole bunch. But if you're working with a builder, the contract with the builder should require the builder to deliver the property lien-free. That means the builder should be the one to get the lien waivers from all of the suppliers and sub-contractors -- not your sister.

So, as a condition to any payment to the builder, or the final payment, the builder will need to deliver a package to your sister to show that all subcontractors and all suppliers have been paid in full and have waived their lien rights against your sister's property.

If your sister is buying a house from a builder, rather than having the house built on land that your sister owns, she should make sure to that she receives title insurance at the closing of the home that would cover her against any lien that could arise from the work done on the property by the builder. The title company would then have to work with the seller/builder to make sure they are satisfied with all of the documentation.

Is this a good market for landlords? I am specifically thinking about trying to generate rental income. I own rental property in Smyrna, Ga., area, about a half-mile from the village green. This is a good neighborhood filled with older houses.

Do you know if that area has held its own as far as value of residential real estate? It's hard to get to the truth with all the ads for agents on the Internet.

I don't know specifically what is going on in your neighborhood, but I can tell you exactly what to do to find out for yourself.

Start by taking a look at all the properties that are on the market now and that are competitive with the types of rental properties you already own. Visit the open houses, so you know what your competition for sale or rentals looks like. Find a real estate agent who has been working in the area long enough to have seen at least one other down market cycle -- or someone new enough who is so starved for business that he or she will work harder than anyone else.