How to Transfer Property
Talk with the buyer about the deed., Find a copy of the current deed., Get a deed form., Complete the form., Have a lawyer look at the deed., Learn how property can be transferred to two people., Sign the deed in front of a notary public., Take the...
Step-by-Step Guide
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Step 1: Talk with the buyer about the deed.
You will transfer real estate by deed.
There are different deeds: warranty, grant, and quitclaim deeds.
They differ in the amount of protection they afford the buyer.
Accordingly, you should talk with the buyer about what kind of deed he or she wants:
Warranty deed.
These provide the buyer with the most protection.
You guarantee that you are the rightful owner and that the property is free of all liens or other claims.
If someone comes forward to challenge the buyer’s title at a later date, then you must compensate the buyer.Grant deed.
The seller promises that he or she hasn’t transferred title to the property to anyone else.
Quitclaim deed.
With these deeds, you make no promises regarding the property.
In fact, the seller might not even own the property being transferred with a quitclaim deed.
These deeds are typically used to transfer property between family or close friends. -
Step 2: Find a copy of the current deed.
You need the current deed to the property because you need to get the legal description of property from it.
You will need to include the legal description of property on the new deed.
Look through your papers and see if you have a copy of the current deed.
If you don’t, then go to the Recorder of Deeds office and get a copy.
This is the office where deeds are stored.
In your county, the office might go by a different name (Land Registry or Registrar of Deeds). , You should be able to find form deeds which you can fill out.
You can usually find them on the Internet.
Look for form deeds created by your state’s bar association or your local county government.
Your Recorder of Deeds office might also have form deeds you can use.
Stop in and ask the clerk.
You can also hire a lawyer to draft the deed for you.
You should have a lawyer draft the deed if you are not transferring the entire parcel of property.
For example, if you want to divide the property in half or want to retain an easement on the property (such as a “right of way”), then you should have a lawyer draft the deed.
To find a real estate lawyer, you can contact your state or local bar association and ask for a referral. , Make sure you have the right deed form.
If you are transferring property by warranty deed, then don’t use a quitclaim deed form.
You should provide the following information on the deed form:the names of the sellers (“grantor”) and the buyers (grantees) the date of the transfer how much was paid for the land the county and state where the property is located the legal description of property (which you can get from the current deed) , For added protection, you can take the deed to an attorney to review.
Ask the attorney if you have left anything off the deed.
You should certainly consult with a lawyer if you are transferring the property to two people as co-owners. , Two people can take the real estate in different ways.
The ownership form will determine what happens to the property when one owner dies.
Generally, there are three ways in which two people can own real estate together:
As tenants in common.
Two people own a share of the property, though each has a right to use the entire property.
Each owner can sell their share but not the share of the other person.
When one owner dies, his or her share can be passed to a beneficiary through a will.
As joint tenants with right of survivorship.
Both own the property and, when one owner dies, the other automatically gets the other person’s share.
As community property.
A married couple can form a “tenancy by the entirety,” which is community property.
This is like a “joint tenancy” except the couple must be married at the time that they take the property.
If they subsequently divorce, then the property becomes a tenancy in common.
The type of tenancy the buyers want will determine how you grant the property to them.
See Transfer Real Estate Property for more information. , Once you have completed the deed, you should sign it in front of a notary public.Be sure to take sufficient personal identification to show the notary.
Generally, a valid driver’s license or passport should be sufficient.
You can find notaries at the courthouse or at most large banks.
Also, your Recorder of Deeds office usually will have a notary.
Check your state law to see if you need witnesses.
Some states might require one or two people to witness you signing the deed.
You can find your state law by searching “your state” and “land transfer witness” into your favorite search engine. , The deed has to be recorded at the county Recorder of Deeds office in the county where the property is located.
You should take the deed and ask to record it.
You will need to pay a fee to record the deed.
The amount will differ depending on the office. , Thirty-seven states require that you pay a transfer tax whenever property is transferred.In some states, the seller and buyer split the cost.
In other states, the buyer alone is responsible.
Check with the clerk at your local tax assessor’s office.
The amount of the tax is generally based on the amount of money the buyer paid for the property. , It takes about one to two months for the deed to be recorded and for you to be sent a copy in the mail.If you don’t receive a copy by that point, then you should contact the Recorder of Deeds office. -
Step 3: Get a deed form.
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Step 4: Complete the form.
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Step 5: Have a lawyer look at the deed.
-
Step 6: Learn how property can be transferred to two people.
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Step 7: Sign the deed in front of a notary public.
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Step 8: Take the deed to the Recorder of Deeds.
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Step 9: Pay the transfer tax.
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Step 10: Get your copy in the mail.
Detailed Guide
You will transfer real estate by deed.
There are different deeds: warranty, grant, and quitclaim deeds.
They differ in the amount of protection they afford the buyer.
Accordingly, you should talk with the buyer about what kind of deed he or she wants:
Warranty deed.
These provide the buyer with the most protection.
You guarantee that you are the rightful owner and that the property is free of all liens or other claims.
If someone comes forward to challenge the buyer’s title at a later date, then you must compensate the buyer.Grant deed.
The seller promises that he or she hasn’t transferred title to the property to anyone else.
Quitclaim deed.
With these deeds, you make no promises regarding the property.
In fact, the seller might not even own the property being transferred with a quitclaim deed.
These deeds are typically used to transfer property between family or close friends.
You need the current deed to the property because you need to get the legal description of property from it.
You will need to include the legal description of property on the new deed.
Look through your papers and see if you have a copy of the current deed.
If you don’t, then go to the Recorder of Deeds office and get a copy.
This is the office where deeds are stored.
In your county, the office might go by a different name (Land Registry or Registrar of Deeds). , You should be able to find form deeds which you can fill out.
You can usually find them on the Internet.
Look for form deeds created by your state’s bar association or your local county government.
Your Recorder of Deeds office might also have form deeds you can use.
Stop in and ask the clerk.
You can also hire a lawyer to draft the deed for you.
You should have a lawyer draft the deed if you are not transferring the entire parcel of property.
For example, if you want to divide the property in half or want to retain an easement on the property (such as a “right of way”), then you should have a lawyer draft the deed.
To find a real estate lawyer, you can contact your state or local bar association and ask for a referral. , Make sure you have the right deed form.
If you are transferring property by warranty deed, then don’t use a quitclaim deed form.
You should provide the following information on the deed form:the names of the sellers (“grantor”) and the buyers (grantees) the date of the transfer how much was paid for the land the county and state where the property is located the legal description of property (which you can get from the current deed) , For added protection, you can take the deed to an attorney to review.
Ask the attorney if you have left anything off the deed.
You should certainly consult with a lawyer if you are transferring the property to two people as co-owners. , Two people can take the real estate in different ways.
The ownership form will determine what happens to the property when one owner dies.
Generally, there are three ways in which two people can own real estate together:
As tenants in common.
Two people own a share of the property, though each has a right to use the entire property.
Each owner can sell their share but not the share of the other person.
When one owner dies, his or her share can be passed to a beneficiary through a will.
As joint tenants with right of survivorship.
Both own the property and, when one owner dies, the other automatically gets the other person’s share.
As community property.
A married couple can form a “tenancy by the entirety,” which is community property.
This is like a “joint tenancy” except the couple must be married at the time that they take the property.
If they subsequently divorce, then the property becomes a tenancy in common.
The type of tenancy the buyers want will determine how you grant the property to them.
See Transfer Real Estate Property for more information. , Once you have completed the deed, you should sign it in front of a notary public.Be sure to take sufficient personal identification to show the notary.
Generally, a valid driver’s license or passport should be sufficient.
You can find notaries at the courthouse or at most large banks.
Also, your Recorder of Deeds office usually will have a notary.
Check your state law to see if you need witnesses.
Some states might require one or two people to witness you signing the deed.
You can find your state law by searching “your state” and “land transfer witness” into your favorite search engine. , The deed has to be recorded at the county Recorder of Deeds office in the county where the property is located.
You should take the deed and ask to record it.
You will need to pay a fee to record the deed.
The amount will differ depending on the office. , Thirty-seven states require that you pay a transfer tax whenever property is transferred.In some states, the seller and buyer split the cost.
In other states, the buyer alone is responsible.
Check with the clerk at your local tax assessor’s office.
The amount of the tax is generally based on the amount of money the buyer paid for the property. , It takes about one to two months for the deed to be recorded and for you to be sent a copy in the mail.If you don’t receive a copy by that point, then you should contact the Recorder of Deeds office.
About the Author
Catherine Alvarez
Dedicated to helping readers learn new skills in crafts and beyond.
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