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Whether this is your first home or you're upgrading or downsizing, purchasing a home is a big event in life. When major life events occur, it is important to update many different entities and documents.

Purchasing a property with other people can help a buyer lower their individual costs while building equity. But, going in on a house together can also create trouble spots, including survivorship and inheritance issues.

Not recording a deed can cause problems for the grantee. They may be unable to obtain a mortgage, insure the property, or sell it. Even more problematic, an unrecorded deed may make it possible for the grantor to sell the property to two different buyers. If the original buyer failed to record the deed, the property could be sold out from under them.