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This is a crucial role in the transfer of property ownership, as the grantee is the party that gains legal rights to the property being conveyed. The grantee’s name is explicitly mentioned in ...
To learn how to transfer ownership of a house with a mortgage, you’ll need to talk to your lender and see if your mortgage qualifies for a transfer. Here’s how the process might look: Contact ...
Properties that are sold on the basis of equitable title have a legal chain of title intact, and a recorded transfer with the local municipality. Legal title is actual ownership of the property as when the property has been bought, the seller paid in full and a deed or title is properly recorded. Equitable title separates from legal title upon ...
Key takeaways. Real estate transfer taxes are a one-time fee imposed by state or local governments on the transfer of property ownership. The cost of transfer taxes varies by location and is based ...
The closing is the event in which the money (or other consideration) for the real estate is paid for and title (ownership) of the real estate is conveyed from the seller(s) to the buyer(s). The conveyance is done by the seller(s) signing a deed for buyer(s) or their attorneys or other agents to record the transfer of ownership.
In the transfer of real estate, a deed conveys ownership from the old owner (the grantor) to the new owner (the grantee), and can include various warranties. The precise name and nature of these warranties differ by jurisdiction. Often, however, the basic differences between them is the degree to which the grantor warrants the title.
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