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
Buyers pay amounts under $500 to over $1,000 for a real estate attorney to represent them during the closing process on a property, according to Zillow. These costs are generally added into the buyer's closing costs. Attorneys are prevalently used at closings in some parts of the country.Full Answer >
A property deed is a legal document that transfers ownership of a property to another person, explains FindLaw. It contains information about the real estate, the names of the old and new owners, and the signature of the individual transferring the property.Full Answer >
Someone may need to file a quit claim deed when the transfer of property is a gift, or when a joint owner wants to transfer his interest in the property to the other owner, explains SF Gate. A quit claim deed does not warrant the title of the property.Full Answer >
In real estate, a 'gift deed' is a notarized document that transfers ownership of property to another person. Gift deeds are only used when there is no payment or compensation for the property that is being transferred.Full Answer >