1. Get the Deed
Before you can do anything in the title transfer process, you need to have the deed, or at least know who has the deed. A proper deed has the information of the buyer, the seller, and a legal description of the property, such as the address and the boundaries of the property. Finally, all deeds must be signed by the seller and notarized.
If you own the property, the deed should be with the county recorder or register of deeds. If you’re not sure where this is, try contacting the local court clerk to point you in the right direction. If you’re still paying the mortgage on your home, then the deed is not in your name, but it is held in the name of the mortgage company.
2. Quitclaim for Friends and Family
A quitclaim deed is a simple transfer of interest in a property. It is commonly used when someone wants to gift land or real property to a friend or family member without the exchange of money. Essentially, a quitclaim deed tells the person that they are receiving the property as-is, and they are only receiving whatever interest that person has in the property if any.
There are no promises involved in a quitclaim deed. That means your friend or family member cannot come back and sue you later on down the line because the plumbing was old or there’s a lien on the property.
3. Warranty for Traditional Sales
If you’re selling your home to someone you don’t know, then you need to sell via a warranty deed. A warranty deed is a promise from you to the buyer that the house is in the condition you promised and that there are no defects to the title or liens on the home. If the buyer finds any defects or issues later down the line, they can sue.
If you do not have clear title because you received the property you’re selling through a quitclaim deed, or because there are liens on the home, then you should find a real estate lawyer as soon as possible to help facilitate the transfer of title.
4. Record the Deed to Complete the House Title Transfer
The final step in completing the title transfer process is to record the transfer. You’ll go to the local county recorder’s office and record the transfer of the deed. The recording step is the responsibility of the buyer or transferee, and if this step is not taken, then the transfer is not official and can cause loads of trouble if they try to sell in the future.
Ready to Sell?
Whether you choose to simply transfer the title of your property to a friend or family member via a quitclaim deed, or if you choose to sell your property via a warranty deed, the house title transfer process doesn’t have to be super complicated. Remember to consult a local real estate lawyer should any discrepancies arise, and you’ll be well on your way to moving on from your current property!
Want to learn more about the latest in Staten Island real estate news? You’re in the right spot! Check out the rest of the blog for everything from local listings to helpful articles.
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