Once a real estate deed is prepared by a licensed real estate lawyer, it needs the signatures of both parties. Then, the paperwork must be filed with the county representative or county recorder. It may take up to eight weeks for the deed to process, notes Realtor.com.Continue Reading
A new deed is then mailed to the new owner of the property, explains Realtor.com. Property transfers between relatives are normally a quicker process. If the property is being transferred to a relative, a deed of release is required. The assistance of a notary is also required. Once the paperwork is signed and notarized, it needs to be filed with the county recorder. There may be additional steps required if the property is not completely paid off.
Another way to transfer or give away property is to declare ownership to another person in a will. In that case, after death, the property is transferred to another person. There may be additional taxes and fees depending on the state. A child may also inherit a property if his parent has no living spouse or will, states Beverly Bird for SFGate. However, this law varies from state-to-state. In most cases, if there is a living spouse, the property is inherited by that person.Learn more about Law