Easiest way to transfer p
Click here for Top Ten Discussions. CLICK HERE for Q & A Homepage
Receive Free Rental Owner Updates Email:  
MrLandlord Q & A
     
     
Easiest way to transfer p (by Sal [PA]) Jul 30, 2021 5:51 PM
       Easiest way to transfer p (by Richard [MI]) Jul 30, 2021 6:19 PM
       Easiest way to transfer p (by Robert J [CA]) Jul 30, 2021 7:08 PM
       Easiest way to transfer p (by P.B. [MI]) Jul 30, 2021 8:37 PM
       Easiest way to transfer p (by Ken [NY]) Jul 30, 2021 10:39 PM
       Easiest way to transfer p (by Jim [OH]) Jul 31, 2021 9:56 AM
       Easiest way to transfer p (by Nicole [PA]) Jul 31, 2021 10:05 AM
       Easiest way to transfer p (by plenty [MO]) Jul 31, 2021 10:25 AM
       Easiest way to transfer p (by Vee [OH]) Jul 31, 2021 10:36 AM
       Easiest way to transfer p (by Nicole [PA]) Jul 31, 2021 11:39 AM
       Easiest way to transfer p (by dino [CA]) Jul 31, 2021 1:18 PM
       Easiest way to transfer p (by plenty [MO]) Jul 31, 2021 4:18 PM
       Easiest way to transfer p (by plenty [MO]) Jul 31, 2021 4:18 PM
       Easiest way to transfer p (by Ray-N-Pa [PA]) Aug 2, 2021 1:40 PM
       Easiest way to transfer p (by Ray-N-Pa [PA]) Aug 2, 2021 1:41 PM

Click here to reply to this discussion.
Click Here to send this discussion to a friend

Easiest way to transfer p (by Sal [PA]) Posted on: Jul 30, 2021 5:51 PM
Message:

I would like to buy a piece of property from a friend of mine. Thereís no mortgage involved, and I know the last three title transfers, so Iím not interested in any title insurance. What is the quickest wayTo transfer a title for a house? --24.238.xx.xx




Easiest way to transfer p (by Richard [MI]) Posted on: Jul 30, 2021 6:19 PM
Message:

To make sure it's done right, go to an escrow company or title company or lawyer and have them do the paperwork. I've had this done for only about $150 plus recording fees and taxes. I'd just get a grant deed. That way, if you ever decide to sell it in the future, there will be less problems.

Now for the really cheapest way, maybe just get a quit claim deed and file it at the courthouse. There will still be recording fees plus taxes.

For me, the elimination of potential problems in the future is well worth the small costs to have it done by pros. --24.180.xx.xx




Easiest way to transfer p (by Robert J [CA]) Posted on: Jul 30, 2021 7:08 PM
Message:

Anyone who buys long term income property is "crazy" not to have title insurance..

I had a friend who purchased two houses on a lot in Reseda California. One was a 3 bedroom house and the second was a 1 bedroom shack. My friend moved into the shack and rented out the 3 bedroom home in front. Within two years his family helped him convert the shack into t nice 2 bedroom home.

Then the neighbor behind his house purchased it and had a survey done. The old Shack was on my friends property but when he expanded the shack and added rooms, he built it on the neighbors lot. He had to tear it down. All because of a $680 title policy, the he refused to get, he waisted 2 years building onto the shack and the lost all of that work--it was torn town. He said he lost $30,000 from the building and tear down. --47.155.xx.xxx




Easiest way to transfer p (by P.B. [MI]) Posted on: Jul 30, 2021 8:37 PM
Message:

I agree with Robert J. Anyone who buys any property is crazy not to purchase Title Insurance.

There could be a person, whose name is not even listed on any of the Deeds, that may have needed to sign and did not.

Depending on your State, if a male owns property and marries or is married, the wife needs to sign off her interest, even if her name is not on the Deed. If there is a Trust the Trustees need to sign.

Title Insurance will insure the Title. If a mistake is made, the Title insurance will pay to rectify it.

Do not let the fact that they are your friends influence you on this very important matter.

Now, to answer your question. The easiest fastest cheapest way to transfer Title, in my state, is to personally prepare a Quick Claim deed. You can accomplish this yourself. Go to the Court house and get a blank Deed, fill it out. Pay for the property, have the owners sign it, with witnesses. Take it back to the court house and register it. --67.22.x.xx




Easiest way to transfer p (by Ken [NY]) Posted on: Jul 30, 2021 10:39 PM
Message:

Why in such a hurry? you may be sorry,do it right have an attorney or title company do the paperwork.Do you even know if the taxes are current? --72.231.xxx.xxx




Easiest way to transfer p (by Jim [OH]) Posted on: Jul 31, 2021 9:56 AM
Message:

I too recommend title insurance. Typically the mortgage lender will have title insurance to protect themselves of an incomplete title. That title insurance is only for the lender's responsibility of due diligence to complete the loan. It does not protect the buyer and is no longer a protection after the loan is signed and accepted. A buyer should pay the extra money and have title insurance. This is to protect them from a four owners ago grandson coming around claiming rightful ownership.

A quit claim deed of the present ownership signing away any claim to the property will only get you halfway there. There is no such thing as a quick claim deed. --184.57.xxx.xx




Easiest way to transfer p (by Nicole [PA]) Posted on: Jul 31, 2021 10:05 AM
Message:

Quickest and easiest is for him to draw up a deed, get it notarized and hand it to you while you hand him a check. Better way is to have your lawyer handle it. For a cash deal like you describe the cost is minimal to ensure you both have no problems pop up --72.70.xxx.xxx




Easiest way to transfer p (by plenty [MO]) Posted on: Jul 31, 2021 10:25 AM
Message:

Just put your name on the deed. --172.56.xx.xxx




Easiest way to transfer p (by Vee [OH]) Posted on: Jul 31, 2021 10:36 AM
Message:

It would be important to know of any tax liens from a family member who is in the inheritance line, a friend got a sheriff deed place and just as the permit inspectors arrive so does the feds with locks with lien paperwork - to be auctioned at a later date. --76.188.xxx.xxx




Easiest way to transfer p (by Nicole [PA]) Posted on: Jul 31, 2021 11:39 AM
Message:

Do NOT, do NOT, do NOT accept a Quit Claim Deed as suggested above. When you are paying money for a property, get a warranty Deed.

--72.70.xxx.xxx




Easiest way to transfer p (by dino [CA]) Posted on: Jul 31, 2021 1:18 PM
Message:

Don't know if this is the case here but, it has been my experience that people that insist on doing things wrong such as not getting title insurance, often ask for advice before the problems pop up so they can have someone to blame instead of themselves.

Just something to consider.

--76.171.xxx.xxx




Easiest way to transfer p (by plenty [MO]) Posted on: Jul 31, 2021 4:18 PM
Message:

They asked for easier way. Not necessarily the safest way. --172.56.xx.xxx




Easiest way to transfer p (by plenty [MO]) Posted on: Jul 31, 2021 4:18 PM
Message:

They asked for FASTEST way. Not necessarily the safest way. --172.56.xx.xxx




Easiest way to transfer p (by Ray-N-Pa [PA]) Posted on: Aug 2, 2021 1:40 PM
Message:

Sal,

Title insurance isn't a deal breaker, but a title search is an ABSOLUTE item that must occur.

Now if you asking how to do the deal with min cost, I would be transferring the property into a trust and then buying the beneficial interest to the buyer - you are able to avoid the transfer taxes. Then after beneficial is transferred, you record the new deed with the new trustees name on it.

Depending on what you are are trying to do will determine if an LLC should be the trustee or the beneficial interest.

--24.101.xxx.xxx




Easiest way to transfer p (by Ray-N-Pa [PA]) Posted on: Aug 2, 2021 1:41 PM
Message:

PS: the true value of these tools is if you want to buy a place with an existing note on it, but the terms of the note are attractive and you don't want to pay it off quite yet ------ wink wink nudge nudge --24.101.xxx.xxx



Click Here to send this discussion to a friend
Report discussion to Webmaster


Reply:
Subject: RE: Easiest way to transfer p
Your Name:
Your State:

Message:
Easiest way to transfer p
Would you like to be notified via email when somebody replies to this thread?
If so, you must include your valid email address here. Do not add your address more than once per thread/subject. By entering your email address here, you agree to receive notification from Mrlandlord.com every time anyone replies to "this" thread. You will receive response notifications for up to one week following the original post. Your email address will not be visible to readers.
Email Address: