Important measures to take when signing over a deed include consulting a real estate attorney, establishing a legal description of the property, determining the type of deed transfer, and delivery and acceptance of the deed, reports realtor.com. A real estate attorney can prepare and file the real estate transfer deed and establish a legal description of the property.
The property owner must sign the new real estate deed, which is filed at the county recorder’s office. This process can take four to eight weeks, according to realtor.com. A new real estate deed is mailed to the rights holder.
Valid transfer of a deed is not effective until the deed has been delivered and accepted. Delivery and acceptance are legal terms that describe the rights holder's intent to immediately transfer a deed to another party, explains Mortgage News Daily.
There are four types of deeds that are common in deed transfer, according to the American Bar Association: general warranty, special warranty, grant deeds and quitclaim deeds.
The difference between each type of deed has to do with the number and scope of the warranties involved in the title, reports Mortgage New Daily. For example, quitclaim deeds are commonly used to transfer property between spouses, or to add a spouse to an existing deed.Learn More
Tenants in common, also known as tenancy in common, is a type of property ownership in which more than one person owns the property. There is no limit to the number of individuals who can own a share of the title in a tenants in common property.Full Answer >
The Live Oak Lofts are located in Dallas, Texas. These lofts feature exposed wood beams, brick and ventilation along with stained cement flooring in most units. Amenities include a fitness center, outdoor pool, landscaping services and on-site parking.Full Answer >
Deed restrictions are very common in planned subdivisions. They are written agreements, which appear in the real property records of the county, that limit or restrict the owners as to what they are allowed to do with the property, according to Useful Community Development.Full Answer >
Who pays closing costs in the purchase of a property can actually vary depending on the terms of the sale contract. There are some sellers that offer to pay closing costs as an incentive for prospective buyers, while others expect the buyer to pay the costs.Full Answer >