Property Transfer Attorneys
The need to transfer or modify ownership of real estate between parties and/or entities occurs every day with accuracy of the transfer documents being the driving force behind the scenes. An attorney with Goosmann Rose Colvard & Cramer, P.A. can make sure your transaction is completed with the right deed and transfer documents and in a timely fashion. To learn more about our property transfer service, contact our law firm today.
Do I Need A Real Estate Attorney For A Property Transfer?
While it is legal for you to draft and execute a deed or any legal document for yourself without the help of an attorney with Goosmann Rose Colvard & Cramer, P.A. or another attorney, inadvertent issues with the title and/or unintended consequences may be created. An attorney can help you prevent costly mistakes and ensure the transfer is done thoroughly and legally and without future issue.
An attorney conducts an investigation to make sure the documents have the appropriate requirements and legal description of the property, the names of the current owners are confirmed before the deed and other requirements transfer documents, if any, are provided to the involved parties for review and signature. Once the deed and/or other transfer documents are properly signed, the necessary documents are filed with the local county Register’s office.
Most Common Types Of Property Deeds
Property deeds take various forms and a real estate attorney with Goosmann Rose Colvard & Cramer, P.A. can help you choose the most appropriate deed for your transaction. Contact our law firm today.
General Warranty Deed
The seller, or grantor, guarantees to the buyer, or grantee, that the title to a particular property is clear of any and/or all issues and they — the seller — has the right to sell the property. A general warranty deed certifies the guarantee is legitimate dating back to the property’s inception. This is the form of deed required for more residential real estate transactions.
This type of deed is used by an estate executor to transfer a real property interest from a deceased person to a new owner. The distribution, sale, or transfer must be approved by a probate court or processed as required by North Carolina statutory requirements for an estate to sell. This type of deed typically contains the same guaranty or warranty of title as a special warranty deed.
A quitclaim deed transfers any property rights and any claims from one party to another, usually without a monetary exchange and there is no guarantee or warranty from the seller, or grantor, that the property title is clear nor that the grantor has any legal ownership of the property.
Special Warranty Deed
A special warranty deed is the same as a general warranty deed except the guarantee or warranty provided by the seller, or grantor, is only applicable for the length of time the grantor owned the property. This is the form of deed required for most commercial real estate transactions and is commonly used in conveyances or sales from an estate or a bank subsequent to foreclosure.
Life Estate Deed
A life estate deed is a conveyance of property to another party with the seller, or grantor, reserving in the grantor, or a designated party, an interest in the property for his/her/their specific lifetime. The property automatically transfers to the party deeded the property upon the death of such grantor or the designated party.
A confirmatory, or corrective, deed resolves an issue that appears on a current or previous property title. This deed doesn’t create or transfer any new title.
What Is A Property Transfer?
A deed is a legal document used to exchange a property title and ownership between parties, known as a transfer of property. While the majority of deeds are short documents, every deed should contain accurate and specific information included, such as:
- Clear indication the document is a deed;
- A thorough and correct description of the property;
- The signature of the property owner who wishes to transfer ownership; and
- Information for the party taking possession of the property title.
A deed transfer is used for every type of real estate transaction.
There are additional documents also needed to accompany a deed for a successful transfer of title to property and an attorney with Goosmann Rose Colvard & Cramer, P.A. can properly advise you and prepare any such additional documents for the transfer.