A title transfer is necessary when the ownership of a property changes hands. If you want to learn the process you should go through to finalize a title transfer, read this post that Land Title in Roseville has put together for you.
Any real estate transaction can be stressful, complex, and just a bit overwhelming. There are many steps that you need to go through, paperwork you have to file, and people you need to deal with.
Still, when you finally see the light at the end of the tunnel, there's one thing that you need to make the closing legal and over with: transferring the title. Doing so means that you officially pass on the property's ownership from one person to the next.
If you're nearing the end of your closing process and would like to have a smooth and successful title transference, the following post will share the general steps you should go through.
Have a safe and successful closing process with professional title services. Call Land Title at 651-697-1900 for your title services needs, including title insurance in Roseville.
How to Perform a Property Title Transfer
Reach Certain Agreements with the Other Party
The first step in ensuring you have a smooth and successful title transference is reaching certain agreements with the other party involved in the real estate transaction. The grantor (previous owner) and the grantee (new owner) should determine the type of deed they will need (which is the document for the transference), who will cover the transference fees, and more.
Get a Title Search and Title Insurance
Whenever a title is changing hands, getting title services is a must. This is because you never know what could be hiding in the title. A title search will go over the property's records to uncover irregularities (mistakes, fraud, or other), and title insurance will keep the investment protected against irregularities that could put the property's ownership claim in jeopardy.
A title search can uncover irregularities that can put your real estate transaction in peril. Call Land Title at 651-697-1900 if you need a professional title search and title insurance in Roseville.
Work with a Real Estate Lawyer
As stated above, the transferring of the title is an important legal procedure that helps finalize a real estate transaction. For this reason, everything must be in order and up to the legal code. If you're inexperienced in this area, it's a smart idea to work with a real estate lawyer who can oversee the process and provide professional advice to keep you out of trouble.
Write Up the New Deed
Once again, the deed is the document that establishes the transference of ownership and the type of transference it will be. This means that to transfer the property's title, you need to write a new deed. Nowadays, you can easily find a deed template online and fill it out yourself. Or you can let the lawyer write it up. In any case, make sure to have them see it to ensure it's all as it should be.
Review the New Deed with the Other Party
As stated before, to have a safe and successful closing process, both parties need to be on the same page. This is why, even if you already discussed the deed with the other party, you should review it with them once the new one is written. They should read everything and verify that everything is correct. If something were unclear or incorrect, this would be the time to discuss it.
Call Land Title at 651-697-1900 for all of your title services needs, or if you require more information on how they can assist you through your complex real estate transactions.
Get Signatures on the New Deed
To make this new deed official, there needs to be a record that all of the parties involved agree with what's stated in it. For that reason, everyone must sign the new deed. By now, the new deed has been reviewed and okayed by the grantor and the grantee. It's even recommended that you have a notary public who can validate the document's legality and signatures.
File the New Deed in Public Records
Last but not least, it's necessary that the new deed is in public records to finalize and legalize the transfer process completely. To that end, you will need to go down to a recorder's office or the county's courthouse. There, you will have to pay the taxes and fees associated with the transference before filing the new deed and finishing the process.
Keep your investment protected against irregularities in the property's title with title insurance in Roseville. Call Land Title at 651-697-1900 to learn more about the professional title services they offer and how they can benefit you.
