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.Know More
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 about Real Estate
The vesting of a warranty deed is a method used to transfer property from one individual to another, in the event an individual decides to sell or bequeath their property upon their demise. Any transferring of legal ownership of property from one party to another typically occurs using a property title or deed.Full Answer >
A quitclaim deed is a deed used to transfer property ownership when no sale is involved, according to Realtor.com, meaning that there is no money exchanged and no title insurance issued in the transaction. A quitclaim deed only affects property ownership, not the financial responsibility of a mortgage.Full Answer >
A quitclaim deed is used to transfer property to a new owner without making promises or guarantees about the title, according to Florida Probate Solutions. The primary requirements for a quitclaim deed are found in Florida Statute 695.26, according to the Lee County Clerk of Court.Full Answer >
A name can be removed from a property deed by creating a new quitclaim deed. A quitclaim deed is commonly used to transfer property ownership from one person to another without the need to sell the property, notes realtor.com. With this type of deed, there is no need for a title search or title insurance.Full Answer >