“Although it isn’t mandatory, property deed transfer process may involve sorting out of some details. For this reason, hiring a real estate attorney is always advisable. A good real estate lawyer can guide you through various details and provide help in the preparation of all necessary documents for property deed transfer.”
For you and your family buying a new house is always exhausting if not managed properly. Open house negotiations alone could take at least weeks that last to even months when people want to settle into their dream house as soon as possible.
Everyone needs to know that some of the last-minute formalities of real estate transfer are the most important among all requirements. The transfer of any property, asset, or real estate between a buyer and a seller, requires a real estate deed.
What is a property deed transfer?
A property deed is a legal document that allows one individual or organisation to transfer ownership rights to another. The deed is the legal “evidence of transfer” for real estate, either undeveloped land or land with a house or other structure on it.
The following details should be present in a property transfer deed:
- An overview of the property in question
- Information on who is assuming ownership of the land
- Proof that it’s a deed
- The signature of the person or company transferring the land
Because deeds do not need a lot of detail, the document itself is usually very brief. However, the contract may also provide additional information, such as the transfer’s guarantees or terms. Each person becoming the landowner should receive the deed. Further, in most cases, filing of the deed with the appropriate authority is also required.
Any real estate transaction would necessitate the use of a deed. For correct registration of the deed, it is essential to use the property’s legal definition.
Commonly used deeds
Your title will determine the type of deed you use to move land. For example, if you believe you have a legitimate title, the deed you use to move the property would be different from the deed you use if you are uncertain about the title’s legitimacy. Following are the different deeds that are used to pass land.
1. Deed of Quit Claim
Although a quitclaim deed still conveys the owner’s entire interest in the land, it does not have any title warranties. That is, the owner’s title is not a guarantee of being legitimate and marketable. This means that the contract only transfers the seller’s ownership rights at the time of sale.
In most cases, the owner has a legitimate ownership interest in the property but declines to include the warranties that a general warranty deed offers. While quitclaim deeds may be unsettling, they mostly tend to be the quickest way to move land. They effectively prevent dealing with possible title defects by avoiding them entirely. However, many title insurance providers would be wary of providing title insurance for real estate conveyed by a quitclaim deed.
2. Deed of General Warranty
The most popular method of transferring real estate is through a general warranty deed. It’s used when you know and trusts that your property’s title is sound and marketable. It is most widely used in real estate transactions involving residential properties. A buyer’s best defence against title challenges is a general warranty deed. The guarantee covers the seller and all persons or organisations involved in the chain of title for that specific land.
You also affirm that there are no loans or liens on the property, including a general warranty deed. This idea may shock some homeowners if they have a mortgage on their house. When you sell your house, your mortgage is usually paid off with the sale proceeds, and it can even move to the new home you buy. This is a requirement of the covenant to express free and clear of all encumbrances.
There are many advantages to using a general warranty deed to transfer land. Buyers often consider this form of deed in their real estate transactions if at all necessary.
Unfortunately, a general warranty deed cannot transfer every land. When it comes to property transfers, many unknowns can cause issues with a title. In such cases, a quitclaim deed might be the best option.
Why hiring a deed transfer attorney is important?
It is mostly observed that litigation matters involve improper and mistaken drafted deeds. Most of the time, the sale and purchase of a property happens between relatives, friends, families, and people draft their deeds themselves. It may not be much of an issue when a real estate property is a gift to someone. But when the property is ever sold to someone else or a third party, a mistakenly drafted deed can cause serious implications and consequences.
Also, the same happens if any other family member contests a sale of a property. Suppose the property owner dies or can no longer be located. In that case, the property deed transfer with legal documentation becomes much difficult, and fixing these issues years down the road always creates problems. A little money spends on deed transfer lawyers for a few minutes can save you from big issues and endless headaches in the future.
Situations related to property deed transfer where we can help
At the attorney’s real estate group, our expert team of real estate deed transfer lawyers near me can anticipate and preemptively find solutions to the issues that may arrive while processing property transfer. Commonly on the following aspects, we advise our clients.
- Intra-family deed transfers
- Gifts of real estate to relatives and non-family members.
- We are removing people from ownership in a property deed.
- Transfer of deed to an entity including any corporation or LLC Limited Liability Company
- Transfer of any deed to a trust.
- Filing correction of deeds in which deeds filled are for the correction of errors on previously drafted deeds. The corrections mostly occur in names, legal descriptions, or dates of transfer.
- To provide consultation on whether a deed transfer violates any Due on Sale clause or not. These due on sale clauses are not present in current residential mortgages. These clauses state that any specific property or real estate transfer can cause the mortgage to become instant due.
- Advising on whether a deed transfer will violate a “Due on Sale Clause.” Due on sale clauses is present in most residential mortgages.
- Discussion of several types of ownership, including tenants individual, joint tenants, or tenants by the entity. The attorney, real estate group, will assist you in choosing the best among these according to the situation.
- Attorneys at the real estate group discuss various types of deeds, including quitclaim, warranty, and specific warranty according to your case of the deed transfer.
- We prepare drafts and file the important documents for documenting and paying taxes for real estate transfers
When do you need a deed attorney?
Some events happen in a person’s life that may require a home buyer or owner to find a consultation from a deed transfer attorney. Also, making an entirely new deed requires a deed attorney. Some other deed transfers include only alterations in the already existing deeds. The below-mentioned circumstances might include the change indeed the status.
- Buying a real estate
- We are selling real estate.
- Transfer of real estate ownership to any trust or corporation
- Providing a third party a real estate in a gift
- Property transfer issues while marriage or divorce
- Executing the will of a person who is no longer in approach or deceased
- Refinancing in mortgage
- Allowing equity out of home
How much does a deed transfer cost in California, United States?
The regular cost of filing a deed draft with the registered office is nominal. The overall cost depends upon the type of transfer both seller and buyer agreed on. The other cost, including real estate transfer taxes, is also included in a deed transfer cost. This is necessary, and it must be filled and paid to the governmental body where the real estate is located.
Filing a draft of a property deed transfer you without any assistance from a real estate deed attorney could be the cheapest method of transferring a real estate or property. If you file the deed draft independently, make sure that you give your proper time and attention to avoid mistakes. The local register office is only there to keep the records of your deeds. The offices will not guide you in filing the deed, and most of the time, don’t even pinpoint the issues and errors in the paperwork. So, everyone will recommend you hire a qualified real estate lawyer to review the deed and walk through the process of deed filing.
The selling and buying real estate process can be highly complicated. Our real estate attorneys can help you to navigate the following processes –
- Choosing a Real estate lawyer
- How to stop a Foreclosure in California: delay tactics and more
- Choosing lawyer
- Short sale attorney
- Wrongful Foreclosure attorney
- Foreclosure and bankruptcy attorney
How to transfer the Property title to a family member?
It’s now very common to transfer your house deed to a family member or a close relative. Usually, it happens that when you die, your property transfers to the individual you want. Although the transfer of property deeds by yourself is easiest and quick, it comes up with many complications and mistakes.
If there is any mistake, there are chances that you might lose all control and an ownership interest in your property. So, while transferring the property to any member, consult a deed attorney to help you process and file your deed.
Methods you can use for deed transfer to a family member
For a property deed transfer to a family member, the following methods can be used –
- Quitclaim deed
- TOD deed
- Warranty deed
- Creating a joint tenancy
Process of property deed transfer and deed recording
First of all, if you want to transfer a property and are willing to file a deed draft, you need a qualified deed attorney to prepare and file the real estate transfer deed. All you have to provide the basic and general information about the property and the names of the individuals involved in the transfer of property.
Using this information, the real estate attorney will ask about some queries regarding the title to ensure that transfer is secure. Also, the asking will establish a legal definition of the property. Hence, the hired attorney will prepare a new deed that will become official after being signed and notarised.
The conveyance process completes automatically upon the signing of the deed. But still, if you want to make your property transfer more protected, you will need to record the new deed in the national offices near the property area. This recording of the deed will eventually protect against all other claims of ownership regarding the property.
Free consultation with a property deed transfer attorney near me
Many of us are familiar with the basic process of buying and selling. For instance, a car that requires simply a sign from buyer and seller over a basic title. These small transfers of the property allow you to think that deed transfer is simple.
Deeds are somehow ultimate evidence of property ownership that includes a legal and financial consequences. A slight mistake in filing and drafting deeds in any property can cause serious consequences after some passing years of life. Quite simply, it is good to hire the assistance of a qualified deed attorney for property transfer and title transfer by a deed.
Property deed transfer attorney near me
Although it is possible to pass a deed without legal help, doing so correctly can be difficult due to the rigorous criteria and laws that must be followed. As a result, whether you need assistance moving, drafting, or receiving a deed, you can seek legal advice from a local Attorneys’s Real Estate Group representative.
Simply, give us a call at 916-702-8443 or visit our website at Attorneysre.com. You can also get free legal consultation by filling in the form at this link. One of our attorneys will get back to you as quickly as possible and will be glad to assist you. We look forward to welcoming you soon.