Owning land or property is only for the wealthiest individuals in the US, and real estate is considered an extremely valuable asset to whoever owns it. Every piece of land and property in the US is recorded safely in the County Recorder's office and is a public record. If you are looking to transfer your land or property in someone else's name, the original records need to be changed, without which the transfer becomes invalid.
The steps that you must take to transfer land or property ownership are mentioned below:
The transferring process of land or property is done through a deed. It is the official proof of transfer of assets. There are different types of deeds to choose between. The first step to transferring property or land involves choosing the right deed.
This is the most common kind of deed used in real estate. It transfers land or property and all its interests to the buyer from the seller. The deed helps protect the buyer from any actions of the seller or prior owners that might harm the title of the deed.
The special warranty deed protects the title from any defects while you own the property. This deed is more commonly used when you don't know the new buyers or when you don't know much about the property's history.
This deed can be used to allow the transfer of any interests in the property to a different party. This is the deed used during a divorce and when giving the property to family and friends, and this deed doesn't offer much protection to the buyer.
The recipient or grantee who will receive the property may be an individual or an organization. It may be bought as a gift or transferred to the recipient upon the owner's death. The name, address, and other details of the recipient must be mentioned. All terms and conditions must be discussed with them
It's always best to hire a lawyer to prepare the deed as they are experienced in these matters. This will speed up the transfer process and will save you money as well.
Review the deed to make sure all the details are accurately mentioned— the title of the deed, the names of the grantor, grantee, and their addresses must be clear.
The deed must then be notarized by the seller (the one transferring the property) in the presence of a notary public and filed in public records.
In the final step, the deed is recorded in the County records office, where you have to pay the taxes and fees associated with the deed to successfully complete the transfer.
Property transfer is a long and time-consuming process, and it may be difficult to get all the relevant documents in order. EJD Law Group is dedicated to providing effective solutions to all its clients' real estate needs. If you are experiencing a land transfer or property ownership dispute, contact EJD Law Group and let their team handle all your problems.