To finalize a real estate transaction, it's important to get a title transference that can legalize the property's change of ownership. To learn the steps on how to perform a title transfer, continue reading.
How to Perform a Property Title Transfer
- First, you need to agree with the other party involved on different matters (like who will pay the transfer fee, what type of deed you need, etc.), so you can have a smooth transference.
- Before the transfer is done, get title services. A title search (an investigation on the property's records) and title insurance (to protect your finances against issues with the title) can help you have a safe transaction.
- It's a good idea to work with a real estate lawyer who can oversee the process and guide you, so you can guarantee the legality of the deed.
- Of course, you will need a new deed that establishes the buyer as the new property owner. You can find templates online, or ask your lawyer to write it for you.
- Once the new deed is done, you need to take it to the other party. This way, they can verify that everything in it is correct. If there's an issue, you can solve it as soon as possible.
- If both parties agree, then the next step is to sign the document. It's a good idea to have a notary public for this, so they can attest to the validity of the document and signatures.
- Lastly, you need to take the new deed to the county's courthouse. After you do so and pay the fees/taxes associated with the transfer, the process will be legally finalized.