To declare and fill out real estate documents accurately, begin by identifying the correct form based on the transaction type, such as deeds, mortgages, or tax filings. For deeds, ensure all parties’ legal names, property descriptions (using metes and bounds or parcel numbers), and notarization are included. For mortgages, provide borrower/lender details, loan terms, and collateral information. Verify tax forms like 1099-S for sale dates and amounts. Consult local regulations and seek professional review to avoid errors.

Accurate documentation is critical to prevent legal disputes and delays. The National Association of Realtors (NAR) reports that 15% of real estate transactions involve errors in paperwork, leading to average $5,000 in resolution costs per case. The Internal Revenue Service (IRS) notes that 20% of 1099-S forms contain discrepancies, increasing audit risks by 35%. For example, incorrect property descriptions on deeds can result in boundary disputes, costing property owners up to 10% of transaction value in legal fees. Similarly, mortgage applications with missing collateral details may be denied, delaying closing by 30 days. These statistics underscore the need for precision, as even minor oversights can escalate into significant financial or legal consequences. Proper training and adherence to state-specific guidelines, such as those outlined by the American Bar Association, reduce errors and ensure compliance with federal and local laws.