How to Transfer Deeds of a Property
One of the most common methods of transferring the title of property is to transfer the deeds. The owner of the property can transfer the deeds of a property to another person for a variety of reasons, but the procedure remains the same.
Decide what kind of deed you want to transfer
The first step when transferring deeds of a property is deciding what kind of deeds are subject to transfer. The two most commonly used deeds in transfer of property are warranty deed and quitclaim deed.
If you want to claim that you own the deed freely and clearly and that nobody else’s interest lies in the transfer of the property, then you will be required to offer a warranty deed. Quitclaim deed, on the other hand, is given when you don’t want to offer a warranty deed, and is mostly used for transferring property among family members. A quitclaim deed states that you are transferring your share in a certain property and other people may also have an interest in the subject property.
Draw up the deed
Once you have decided what kind of deed you want to transfer, the next step is to draft the deed. There are self-help forms available to draw up the deed, but it is recommended you consult your legal advisor to avoid any problems or ambiguities. Also make sure you sign the deed before a notary public, so that it becomes a legal transfer.
Deliver the deed to the grantee
Once you have signed the deed, deliver it to the grantee, the person to whom you have transferred the property. You can deliver the deed yourself by handing it over to a grantee and making sure that he/she knows what he or she is accepting. You can also deliver the transferred deed through certified mail.
Make sure transfer of deed has been registered with the local government
The transfer does not complete after the grantee receives the deed, rather he/she has to register the transferred deed with the local government. Make sure he/she registers the deed with the province in which the property is located. Registering the transfer with the local government is in the greater interest of the grantee, as he or she will have a proof that legal transfer took place, should someone challenge the transfer at some stage.
Note: If the nature of your work includes a risk of being sued, you can always transfer your deed to your partner or any other family member to avoid the risk of the property being seized to pay a judgement. However, you cannot transfer a deed to avoid a house seized by a person who has won a claim against you.
