The process of buying a new home can be exhilarating but can also become exhausting. After months of open houses and negotiations, you want to settle into your dream property as quickly as possible. Unfortunately, some of the last-minute formalities of property transfers are important. Before this occurs, the deed must be transferred from the seller to the buyer. At Gulotta & Gulotta, our real estate lawyer on Long Island is here to help you streamline the deed transfer process and avoid any potential pitfalls. Continue reading to learn more information about deed transfers.
What is a Deed Transfer?
A deed is a legal document that indicates who owns a piece of property. A deed will identify the buyer, seller, and purchase price and provide a legal description of the property. The deed will also be signed by the individual transferring the property. There are two types of deeds used in real estate transactions:
- Quitclaim Deed – Quitclaim deeds transfer the ownership interest the seller has in the property but makes no guarantees that the title is good or what that interest is. These types of deeds are used to transfer property between spouses after divorce, clear up title problems, or for informal real estate transactions.
- Warranty Deed – A warranty deed, or grant deed, is the most common way to transfer property. This type of deed transfers ownership and promises the new owner that the grantor holds good title to the property.
The property transfer process happens by way of deed. The deed is the official proof of transfer for real estate, which can include the land on its own or land with a home or other building. Deeds are often short documents, as they do not require much information. However, the deed must be prepared, executed, and filed properly. If you attempt to transfer a deed on your own, you risk making the deed unrecordable or unenforceable, defeating the purpose of the transfer. Our real estate lawyer on Long Island will oversee the proper execution of all documents and ensure you save time and money.
Contact Us: Real Estate Lawyer on Long Island
At Gulotta & Gulotta, our real estate lawyer on Long Island has represented buyers and sellers throughout the deed transfer process. Our experienced real estate attorneys are here to help you save time and money. Be sure to contact our firm to learn more about deed transfers and request a consultation today!
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