What Is Transfer of Ownership

If you wish to lend your property to a family member or loved one, this is where transfer of ownership is applied. Transferring of ownership is a simple process which involves property purchase, exchange of possession and mortgage debt, and other related processes. With the help of the right people in real estate, transferring property ownership can be done easily. In the process, both the grantor (the one handing the property) and the grantee (the one receiving the ownership) are involved. The property deed is the legal document that convey ownership from the grantor to the grantee.

Here are important points when transferring real estate ownership:

1. Start of with getting a legal adviser or a title agent who can assist in the transfer of ownership. Make sure to know the best person to hire for this process.

2. See to it that the right legal documents are acquired. Ask assistance when it comes to making the necessary paperwork to make the entire process of property transfer smooth.

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3. Schedule a meeting with your real estate agent, the grantee, and his or her legal advisor to discuss important details about the transfer. It is the responsibility of your agent to keep records of the transfer of ownership.

 

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