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How can I legally transfer my property to someone else?

It may seem like it is easy to transfer ownership of your home or office to someone else. However, the field of business law has specific requirements that you need to follow in order to transfer property legally. The act of transferring property in Florida to someone new is called conveyance. Your attorney will need to draft and record the appropriate deeds before the transfer becomes official.

The first step to transferring property to a new owner is to obtain a deed, which is a document that officially transfers the property. A warranty deed will transfer ownership and guarantee that the seller has good title to the property. A quitclaim deed will transfer ownership without any guarantee of the seller's good title. Quitclaim deeds are often used among real estate transaction with friends and family or after a divorce between spouses. Regardless of the type of deed, the seller (grantor) and buyer (grantee) must be named on the deed and there must be a description of the property in question. The grantor must also sign the deed and the signature must be notarized.

If two people are buying the property together, it will be considered bought in joint tenancy or tenancy in common. The difference between the two lies in how the property will be treated after one or both co-owners pass away. If one joint tenant passes away, their share will pass to any surviving joint tenants. If a tenant in common dies, their share of the property will pass to their heirs or those listed in their will.

The last step to the transfer process is the recording of the deed. The deed will have to be recorded at a county office or registrar, depending on the state. The owner's interest in the property is not official until the deed is recorded. The order in which the deed and other documents are recorded is very important as it can determine priority when it comes to claims against the property. Once the deed has been signed and recorded, the transfer is complete and the property will have a new legal owner.

Source: FindLaw, "Transferring Property," accessed on Feb. 7, 2017

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