Property transfer forms are the forms necessary to transfer ownership from one individual to another, and those forms include a deed, bill of sale or an affidavit of title. Other transfer documents may include the mortgage and financing documents.Continue Reading
The seller must sign most of the documentation related to a property transfer and deliver them to the buyer at closing. The deed is the document that transfers the property from the seller to the buyer, and state law regulates the form and language. The buyer can choose the form in which he takes title. Upon receipt of the deed, the county recorder of deeds makes it part of a public record. The deed helps to establish the chain of title so that anyone looking through the county records can see the owner took the rights of title from the prior rightful owner.
The affidavit of title may have various names depending on the state, but it is generally a sworn, notarized affidavit by the seller that he confirms ownership in the property and describes any known title defects, such as liens or leases. It may outline any work on the property that has the potential to create outstanding contracts, boundary line disputes or liens.Learn more about Law