Transfer of ownership by a new deed
There are some of you that many need to make changes in ownership of your property. If you have owned property in his own name and are now newly married and want to add her wife as a joint owner of the property, you must create a new deed adding her as a new joint owner of that property. A Deed of Release of Claim is normally used to do this. In this case, title to this property would then be in his and his wife’s names as Community Property with Right of Survivorship. In this case, if either party dies, the property can pass directly to the surviving spouse without probate action.
A Deed is a legal document that transfers ownership or an ownership interest in a home, commercial building, or parcel of land to another person, trust, living trust, partnership, limited liability company, corporation, or any other legal entity that may own property under the law of that state. Real Estate is always under the jurisdiction of the
state it is in.
This deed must describe the address of the property and have the legal description that legally describes the property printed or typed on the Deed. The party granting the transfer of the deed is called the “Grantor”, and the party receiving the transfer of the deed is called the “Grantee”.
This document lists all the names of the parties that are involved in the transfer of real estate. Once the deed has been signed, the county recorder records it with the county of record and it becomes part of the public record, and any member of the public can view the transfer of the deed by examining the public records.
There are many types of deeds with which real property is transferred. For example, a deed of guarantee guarantees that the “Grantor” owns the title, while the deed of relinquishment only transfers the interest in the real property held by a “Grantee”. Most married couples normally hold title to real property under community ownership with rights of survivorship. Single persons may own real estate on a joint ownership basis with the right of survivorship. This means that if one party dies, the other party’s ownership interest will pass directly to the surviving spouse or partner.
Most deeds are recorded as a title transfer of a sale by using a title company that searches the public record and makes sure that the “Buyer” gets a clean title from the “Seller.” This insurance policy assures the Lender that a real estate loan is being used to acquire the property that your loan documents will be in first or second position and that there are no deed restrictions, unpaid taxes, easements, bond assessments or other possible easements or encroachments. on the property
