
Transferring ownership of a house to another person can seem like a daunting task because of the frequent influence of banks, brokers, real estate professionals and lawyers. In fact, once you remove third parties from the transaction, transferring property to another person is not difficult at all. In fact, transferring title of a house to someone else only requires you to pass on one document -- a deed.
Transferring Property
Prepare a valid deed. A deed is a legal instrument used to transfer property from one person to another. A proper deed will contain the legal names of the grantor and grantee, words indicating that the grantor wants to pass title to the grantee, a sufficient legal description of the property, and the signature of the grantor. If there is a current mortgage on the property then the bank will require you to pay off the mortgage before transferring the property. If you do not pay off the balance of your mortgage before transferring the title to your home then your bank may require you to pay off the balance of your mortgage all at once.
Execute the deed. A deed must be signed to be considered valid. Different counties may require additional signatures in addition to those of the grantor. For example, many states require witnesses to the signing of the deed. Some states additionally require that a notary public bear witness to the witness' signing of the deed. Be sure to familiarize yourself with local execution requirements to ensure that your deed, and your transfer of title, will be recognized by the county.
Deliver the original deed or a certified copy of the deed to the grantee and ensure that the deed is recorded in the county's grantor-grantee index. Placing the deed in the grantor-grantee index provides the grantor and the grantee with a publicly verifiable date of conveyance that may be useful if the deed is ever challenged.
Tips
Different counties may require the inclusion of additional components to the deed before considering it valid. In some counties, for example, a Parcel ID must be referenced on the deed. Consider consulting with a local real estate attorney to ensure that your deed meets all statutory requirements.
There are often taxes associated with transferring property from one person to another.
References
- Legal Information Institute: Deed
- Sam Houston State University: Transfer By Deed
- Stephens County Georgia: Warranty and Quitclaim Deeds
- Legal Information Institute: Grantor-Grantee Index
- U.S. Department of Housing and Urban Development: Instructions for Preparation of Mortgage, Deed of Trust, or Security Deed
- Superior Court of California, County of Alameda. "What Are the Advantages of a Living Trust?" Accessed May 15, 2020.
- AARP. "Transfer on Death Deed (TODD)," Page 1. Accessed May 15, 2020.
- Alaska Court System. "Transfer on Death Deed - What Does the Transfer on Death (TOD) Deed Do?" Accessed May 15, 2020.
- Alaska Court System. "Transfer on Death Deed - Do I Have to File the TOD Deed in Court?" Accessed May 15, 2020.
- Alaska Court System. "Transfer on Death Deed - How Do I Revoke the TOD Deed After It Is Recorded?" Accessed May 15, 2020.
- Internal Revenue Service. "Estate and Gift Taxes." Accessed May 15, 2020.
- FindLaw. "Transfer on Death Tax Implications." Accessed May 15, 2020.
- Alaska Court System. "Transfer on Death Deed." Accessed May 15, 2020.
- Arizona State Legislature. "33-405. Beneficiary Deeds; Recording; Definitions." Accessed May 15, 2020.
- FindLaw. "Arkansas Code Title 18. Property § 18-12-608. Beneficiary Deeds--Terms--Recording Required." Accessed May 15, 2020.
- Sacramento County Public Law Library & Civil Self Help Center. "Transfer on Death (TOD) Deeds," Page 1. Accessed May 15, 2020.
- Colorado General Assembly. "Probate, Trusts, and Fiduciaries," Pages 1-2. Accessed May 15, 2020.
- District of Colombia, Office of Tax and Revenue. "Revocable Transfer-on-Death Deed," Pages 1-3. Accessed May 15, 2020.
- Hawaii State Legislature. "Uniform Real Property Transfer on Death Act." Accessed May 15, 2020.
- Illinois General Assembly. "(755 ILCS 27/) Illinois Residential Real Property Transfer on Death Instrument Act." Accessed May 15, 2020.
- FindLaw. "Indiana Code Title 32. Property § 32-17-14-11." Accessed May 15, 2020.
- Kansas Legislative Sessions. "Article 35 - Transfer-on-Death." Accessed May 15, 2020.
- Minnesota Legislature, Office of the Revisor of Statutes. "507.071 Transfer on Death Deeds." Accessed May 15, 2020.
- Missouri Revisor of Statutes. "461.025. Deeds Effective on Death of Owner — Recording, Effect." Accessed May 15, 2020.
- Montana Code Annotated 2019. "72-6-415. Optional Form of Transfer on Death Deed." Accessed May 15, 2020.
- Nebraska Legislature. "Nebraska Revised Statute 76-3402." Accessed May 15, 2020.
- Nevada Legislature. "NRS 111.771 Property Held in Beneficiary Form; Registration in Beneficiary Form; Transfer-on-Death Directions." Accessed May 15, 2020.
- State Bar of New Mexico. "Transfer on Death Deed," Pages 1-2. Accessed May 15, 2020.
- North Dakota Legislative Branch. "Chapter 30.1-32.1 Uniform Real Property Transfer on Death Act," Pages 1-3. Accessed May 15, 2020.
- Ohio Laws and Rules. "5302.23 Designating Transfer on Death Beneficiary." Accessed May 15, 2020.
- Oklahoma Tax Commission. "'Non-Testamentary Transfer–on-Death-Deed’. Title 58, §1251-§1258. Eff. Nov. 1, 2008," Pages 1-7. Accessed May 15, 2020.
- Oregon State Legislature. "Uniform Real Property Transfer on Death Act." Accessed May 15, 2020.
- South Dakota Legislature. "Part 4. Uniform Real Property Transfer on Death Act - 29A-6-403." Accessed May 15, 2020.
- Texas Constitution and Statutes. "Texas Real Property Transfer on Death Act." Accessed May 15, 2020.
- Virginia General Assembly. "§ 64.2-635. Optional Form of Transfer on Death Deed." Accessed May 15, 2020.
- Washington State Legislature. "Chapter 64.80 RCW Uniform Real Property Transfer on Death Act." Accessed May 15, 2020.
- West Virginia Legislature. "Chapter 36. Estates and Property." Accessed May 15, 2020.
- Wisconsin State Legislature. "705.15 Nonprobate Transfer of Real Property on Death." Accessed May 15, 2020.
- State of Wyoming Legislature. "HB0201 - Transfer on Death Deed." Accessed May 15, 2020.
- Gibbs Law Office. "Using a Lady Bird Deed in Florida [Overview, Pros and Cons]." Accessed May 15, 2020.
- State Bar of Michigan. "Ladybird Deed," Pages 31-32. Accessed May 15, 2020.
- Sacramento County Public Law Library & Civil Self Help Center. "Transfer on Death (TOD) Deeds," Page 3. Accessed May 15, 2020.
- Sacramento County Public Law Library & Civil Self Help Center. "Transfer on Death (TOD) Deeds," Page 5. Accessed May 15, 2020.
- Sacramento County Public Law Library & Civil Self Help Center. "Transfer on Death (TOD) Deeds," Page 4. Accessed May 15, 2020.
Tips
- Different counties may require the inclusion of additional components to the deed before considering it valid. In some counties, for example, a Parcel ID must be referenced on the deed. Consider consulting with a local real estate attorney to ensure that your deed meets all statutory requirements.
- There are often taxes associated with transferring property from one person to another.
Writer Bio
Jerome Evans obtained a dual degree in international affairs and modern language from the Georgia Institute of Technology and earned a Juris Doctorate from the University of Georgia School of Law.