Are you considering buying or selling a property? If so, you’ll need to follow the steps to prepare a real estate deed. This document’s purpose is to transfer ownership from one person to another.
Preparing a real estate deed can seem daunting, but it doesn’t have to be. In this post, you will learn the five steps you need to take to ensure your deed is ready for submission. Let’s get started!
5 Steps to Prepare a Real Estate Deed
1. Determine the type of deed you need
Before you prepare your deed, you must determine the type of deed you need. It will depend on a few factors, including property location and manner of transfer.
There are three types of deeds: warranty, quitclaim, and special purpose. A warranty deed is the most common type and offers the buyer the most protection.
2. Obtain a deed form
Now it’s time to obtain a deed form and gather the necessary information. You will need the following:
- The legal description of the property
- The name and mailing address of the current owner
- The name and mailing address of the new owner
- The tax assessor’s parcel number
If you’re unsure where to find this information, your attorney or title company can help you.
3. Fill out the deed
Once you have all the necessary information, it’s time to complete the deed form. This document is what shows proof of ownership. You must ensure it is filled out correctly for the transfer of ownership to be official.
4. Sign the deed
Now it’s time to sign the deed! All parties will need to be present for the signing. You will also need a notary public.
The notary public is responsible for verifying that all the signatures on the deed are legitimate. They’ll also be responsible for taking care of the necessary legalities.
5. File the deed
Submit the deed with the Preliminary Change of Ownership form. Submitting it makes it viewable in public, protecting you from future ownership claims. Once there is an official record of the deed, you will receive a copy by mail.
The Bottom Line
We hope these five steps will allow you to tackle the preparation and transfer of your deed with minimal stress.
Title Group of Tennessee
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