-Legal documents only serve a valid purpose if they are legally binding. You may be curious whether an online legal forms site can provide documents that can Each state has different requirements for a will to be legally enforceable take care of your legal needs at a fraction of the costs of hiring an attorney? The answer is yes. Many legal forms can be drafted using an online legal forms site and are just as binding as if you had paid an attorney thousands of dollars to do the work.
Legally binding documents are agreements made between two parties outlining specific actions required and prohibited on behalf of each party. In each state, for a contract to be binding, there must be a clause or consideration where both parties acknowledge that they know what the agreement says and what actions they must perform, or avoid, to honor the contract.
What Makes a Document Legally Binding?
Legally binding documents can be upheld in a court of law. In many states, even verbal agreements are considered legally binding. However, verbal agreements often come down to a “he said she said” dilemma that can make them difficult to enforce. Written agreements signed by both parties have a stronger chance of being upheld if they are challenged in court.
The document acts as proof that an agreement exists and that both parties agreed to the agreement’s terms. Though not strictly necessary, it is also a good idea to get all signatures on a contract notarized. The notarization proves that each party signed the document, removing any allegations of forgery.
forms.legal takes great care in assuring that the contracts and agreements found in its forms contain the correct language and essential terms necessary for those agreements to be considered legally binding. Poorly worded contracts can lead to misinterpretation and cause legal issues if either party later disputes the terms agreed on in the contract. Using a reputable online legal forms site gives you peace of mind that the language, terms, and conditions contain the language needed to avoid confusion.
To be legally valid, contracts and other agreements must all contain specific elements. These are:
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Agreement—the agreement component of a contract includes offers, counteroffers, and the final meeting of the minds. During the agreement process, one party sets forth terms and conditions, and the other party then either accepts or rejects the terms. If the second party accepts the terms, the contract is signed and becomes a legally valid document. If the party rejects the terms, they do not sign and enter into renegotiation. Before a contract becomes legally binding, there must be terminology that clearly indicates both parties agree to the terms contained therein.
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Competence—to enter into an agreement, all parties must be competent. While the standard for determining competence varies slightly from state to state, the main components are the same. A person entering into an agreement cannot be under the influence of alcohol or drugs or under the age of 18. They must be of sound mind and have the authority to enter into the agreement. Authority pertains to those entering into a contract on behalf of a company or a third party.
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Consideration—For a legal agreement to exist, each party must receive something of value. Value can be monetary compensation or a service or product.
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Rental Lease Agreements
A rental lease agreement minimizes misunderstandings and reduces the likelihood of disputes arising over the lease terms. At a minimum, a rental lease agreement should contain:
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The name of the company or person acting as a landlord
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The names of all tenants
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The dates when the lease goes into effect and the date it ends
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All fees and security deposits
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The amount to be paid in rent and the date when each rental payment is due
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Tenant restrictions—be specific about any restrictions on what the tenant is not allowed to do with the property
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The tenant should always sign the lease first, as it leaves the landlord in a vulnerable position if they send a signed lease to the tenant and the tenant does not respond. The landlord would move on to rent the property to someone else, but the tenant with a signed lease agreement could reappear and claim the signed lease gives them rental rights to the property.
Separation Agreement
A separation agreement provides a legal framework for both parties to separate assets, establish alimony or child support, and set other terms deemed appropriate to the situation. A separation agreement is usually only deemed legally valid if it is fair to both parties.
Filing a legally binding separation agreement gives each party a right to seek remedy with the court if the other party does not abide by the agreement’s terms. In some states, a formal separation agreement is a necessary step before filing for a divorce.
Using an online legal form site can be a quick, efficient and effective way to draft a separation agreement that you will then file with the court. The court will then issue a court order based on the agreed-upon terms of the separation agreement. If the separation is amicable, you can avoid attorney’s fees by drafting the document using a reputable site for online forms.
Bill of Sale Forms
A bill of sale is used in the purchase and sale of specific types of goods. These include automobiles, boats, recreational vehicles, and even animals. A bill of sale legally transfers the ownership of the property from one party to the other.
A properly executed bill of sale is a legal document that makes a record of the agreement to sell and receive property. A bill of sale is evidence of a sale. It is a simple document and, to be legally binding, must only contain:
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The name and description of the goods being sold
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The purchase price of the goods
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A bill of sale functions much like a receipt and is used for initiating title transfers and tax reporting.
Last Will and Testament
A Last Will and Testament will designate how you want your assets distributed after your death and should also name a guardian for any minor children. It is a good idea to update your Last Will and Testament after any significant life changes, so using an online legal form is a simple and effective way to make sure your will is always up-to-date.
Each state has different requirements for a will to be legally enforceable and forms.legal lets to build your will according to your state’s requirements. General requirements include:
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That the testator, which is the person to which the will belongs, be aged 18 or older or is an emancipated minor
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The testator must be of sound mind. Most states consider sound mind to mean that you are lucid and aware on the day you sign your Last Will and Testament
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The testator must sign the will in their handwriting. The signature must always be at the very end of the document.
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While it is not necessary for every state, it is a good idea to wait and sign your will before a notary public. Some states also require two disinterested witnesses to watch you sign the will and then sign it themselves. To be a disinterested witness, they must not stand to benefit from your estate.
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Power of Attorney Form
A power of attorney is a legal document that gives one person, called the agent, the power to act in a specified capacity for another person, called the principal. A power of attorney is frequently necessary in the event of an illness or disability or when the principal cannot be present to sign legal documents or carry out financial transactions such as buying and selling property.
A power of attorney is an essential document when planning for long-term care or when the principal will be unavailable for an extended period of time. Make sure that you only grant a power of attorney to someone you trust, and specify what powers you grant the agent in the document. The principal can revoke a power of attorney at any time.
QuitClaim Deed Form
A quitclaim deed is a fast and efficient way to transfer property to a buyer, but unlike other types of deeds, a quitclaim deed offers little protection to the buyer. A quitclaim deed contains no warranty of title, leaving the buyer responsible for due diligence to make sure there are no liens or claims against the title to the property.
Quitclaim deeds are used when a property is transferred without a traditional sale, such as transferring property between family members. They are also frequently used to clear up the title to a property if there is a situation where someone else has an ownership right in the property. That person can terminate their ownership right with a quitclaim deed.
Commercial Lease Agreement
A commercial lease agreement is a legally binding document made between a business tenant and a landlord that gives the tenant the right to use the property for business or commercial purposes in exchange for rent paid to the landlord.
A commercial lease agreement will outline the rights and responsibilities of the tenant and the landlord during the term of the lease and creates a legally binding contract to which both parties must adhere.
A commercial lease is typically viewed as a contract between knowledgeable business entities and provides less protection than a residential lease. Standard provisions in a commercial lease include:
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A description of the property being leased
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The address of the property
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The term of the lease and whether it is a fixed-term or a lease that renews periodically
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The type of commercial business that is to be conducted on the premises
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The amount of rent to be paid to the landlord
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The rights and responsibilities of both the tenant and the landlord
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Security or damage deposit amounts and information
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A commercial lease in writing, with the details about the terms of the lease, and signed by all interested parties will be considered legally binding in all states.