First rule of thumb: Business is business. Verbal agreements that can’t be substantiated are worthless. It seems to always disintegrate into he said, she said. Documenting transactions, identifying expectations of both parties and using paper trail exchanges can save you from arbitration, going to court and destroying relationships, especially among family and friends. Consider this real life horror story regarding not paying attention to the docs you’re signing. Enter into the story: a woman in her early 60’s is working two jobs, supporting her disabled daughter and another daughter who has a child with her boyfriend. The boyfriend’s sister was living there, but had moved out. All of them lived together in a home that the woman had been paying the mortgage on for years. The boyfriend decided to get a new girlfriend and move out. Then, out of nowhere, the boyfriend’s sister decided she wanted the house. The woman and her daughters believed she had signed a lease agreement with an option to purchase. The woman thought she recalled three names on the deed, one of them being her own. A title company search revealed that there was only one name on the deed. And it wasn’t hers; it   Read more…