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How to Transfer Ownership of a Real Estate Property

Contributor
By Tara Dodrill
eHow Contributing Writer
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Transfer Ownership of a Real Estate Property
Transfer Ownership of a Real Estate Property
Tara Dodrill

Transferring ownership of real estate property involves the services of a title company and the filing of a deed at a county courthouse. Money does not necessarily need to change hands between the parties involved in the real estate transaction; property can be donated or inherited as part of a probate court transaction. Whether the transfer of real estate property is because of a common real estate sale or other manner of change of ownership, the process of transfer is the same.

From Quick Guide: Real Estate Attorney Guide
Difficulty: Moderately Easy
Instructions

Things You'll Need:

  • Title company
  • Real estate deed
  • Filing fees
  • Photo identification
  • Attorney (optional)
  • Financial lending Institution (optional)
  • Real estate agent (optional)

    How to Transfer Ownership of a Real Estate Property

  1. Step 1

    Agree to the terms of the transfer of real estate property ownership. Both the buyer and the seller must agree, in writing, to all terms associated with the sale and time frame for the property transfer. The statements of agreement are part of the sales contract. Contract services with a real estate agent or attorney to negotiate the terms of the real estate property acquisition, if desired.

  2. Step 2

    Secure funds necessary to purchase property; if necessary, this can be done through a financial lending institution. All lenders require photo identification when applying for a loan.

  3. Step 3

    Hire a title company to complete the required search of title. A title search will discover any liens, delinquent taxes, mineral rights agreements or infringements on the property. If the title shows "clouds," or infringements, the lender or an attorney will have to complete additional work to remove the issue from the title before it can transfer. Clearing a title may mean the seller has to agree to use sale proceeds to cover liens attached to the title. Clearing a title can take as little as a few days or as long as several months, depending on the severity and cost of removing the "clouds."

  4. Step 4

    Take the completed title to the county courthouse in the county where the property is located. The county recorder's office will charge a fee to process the title and issue a new deed.

  5. Step 5

    File the new deed with the county recorder's office. The transfer of property is not legally binding until the new deed is filed. Inform the county treasurer of the change of property, and pay land taxes as designated by local laws. The county treasurer will require proof of clear title, deed and photo identification before issuing a new tax card.

Tips & Warnings
  • Read all paperwork regarding the transfer of title agreement carefully. Retaining a real estate agent or an attorney is encouraged.
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