Have in the property without giving any warranty that the interest being transferred is marketable title. Q: What is the difference between a quitclaim deed and a warranty deed?Ī: In a quitclaim deed the owner transferring the property conveys whatever interest the owner may (Normally, the lessor requires a payment for its consent.) If the property is leasehold, the name and contact information of the lessor so we can obtain consent or provide notice. If the property is to be conveyed subject to a mortgage, a copy of the mortgage and whether the mortgage is to be assumed. If the transfer of the property will occur through an escrow company, the contact information of the escrow officer and the sales contract setting forth the terms of the transfer. ![]() The amount, if any, that the new owner is paying to obtain the property. The tenancy by which the new owner wishes to hold title. If a new owner is an individual, we will also need such owner’s marital status. The full legal name(s) and address(es) of the new owner. If an owner does not have any of the foregoing, we can obtain a copy of the current recorded conveyance or transfer document for a nominal charge. The current owner’s title policy, a title report for the property, or a copy of the current recorded conveyance or transfer document. Q: What information do you need to prepare a deed or assignment of lease? A: Generally, we need the following: ![]() The deed or assignment of lease must be recorded in the State of Hawaii Bureau of Conveyances or Land Court.Ī Conveyance Tax Certificate must be filed and any tax due must be paid. The deed or assignment of lease must be signed (in black ink) by the current owner and the new owner before a notary public. We would draft a deed (if the property is fee simple) or assignment of lease (if the property is leasehold) that describes the property being transferred and the tenancy by which the new owner will hold title. A death certificate usually must accompany these instruments for them to be recognized as fully legal transfer instruments.Q: How does an owner transfer the title to a property? Special transfer documents, which include certificates of transfer and affidavits, are often used to transfer full or partial interests in property as the result of a death. However, separate easements are typically conveyed via an easement contract. Easements are rights of use over the property of another. Less used instruments of transfer include easements and special transfer documents. It simply transfers one person’s ownership interest in the property to another. A quitclaim deed uses much simpler language because it contains no promises or guarantees. A special warranty deed promises to protect the buyer if an issue arises from the time the seller owned the property. Warranty deeds provide buyers with the greatest protection because the grantor guarantees that he legally owns the property free and clear of liens and encumbrances and could therefore be liable for any title defect. Buyers and sellers should check with their county recorder or a real estate attorney to confirm.ĭeeds include general warranty deeds, special warranty deeds and quitclaim deeds. Some jurisdictions may require different or additional information. ![]() The signature must exactly match the grantor's name and the instrument must be notarized. The instrument must include a legal description of the property, the parcel identification number shown on the property's tax records and the actual cash consideration paid, if applicable. ![]() In addition, the grantor’s name must match the name on the title search. The instrument must show the name or names of the grantor and grantee. Requirements for Proper Conveyanceįor an instrument of conveyance to be legally acceptable, it must meet certain requirements. Because deed and title recognition laws vary from state to state, buyers should record their deed with their county or municipality to legally notify everyone that they possess title to the property. The actual conveyance or transfer occurs when the seller or his attorney hand a properly prepared deed to the new owner. These legal instruments include deeds, easements and transfer certificates. Generally, lawyers or paralegals under a lawyer's instruction draft instruments of conveyance and transfer as legal instruments that transfer the title from one property owner to another. Instruments of conveyance and transfer are commonly used to create a legally valid transfer of property from one owner to another.
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