Fort Worth Title Transaction Attorneys
Tarrant County Real Estate Lawyers Assisting With Title Transfers
When buying or selling a home, the parties involved in a transaction will need to meet multiple requirements, and they may encounter a variety of legal issues that must be addressed. Generally, a buyer will need to obtain financing by receiving approval for a home mortgage, and they may also need to sell their current home before they can take ownership of a new home. Sellers will need to make sure the title to the property is free of encumbrances and address any issues that may affect their ability to transfer ownership of the home to the buyer. At the completion of the home closing process, the parties will need to understand the steps that they will take to transfer the title of the home from the seller to the buyer.
While residential real estate transactions can be complex, buyers and sellers can protect themselves and make the process easier by working with an experienced lawyer. Gonzalez Law, PLLC works with our clients to address and resolve any legal issues that they may encounter during a transaction. As agents for Alamo Title Company, we can help our clients obtain title insurance that will protect them against potential losses or other issues that may affect a transaction. We can also explain the steps that will be followed during the title search process while providing guidance on how to remove encumbrances and ensure that a home’s title can be transferred successfully.
Deeds Used in Title Transfers
The title to a property is transferred using a document known as a deed. The type of deed used will depend on the nature of the transaction. Available types of deeds include:
- General warranty deeds – These deeds are typically used in real estate transactions. They will state that the seller will assume responsibility for any issues that may affect the title in the future. For example, if an unrecorded lien is discovered, and a creditor seeks repayment for the amount owed, the seller will be responsible for resolving this issue, and the buyer will not be required to make payments to the creditor.
- Special warranty deeds – These deeds are similar to general warranty deeds, although the seller will usually only be responsible for claims or encumbrances that arose during the time that they owned the property. Special warranty deeds are often used in cases where a buyer purchases a home that was foreclosed upon by a mortgage lender. Since these deeds will only provide limited protection for a buyer, title insurance may be necessary to provide coverage in case encumbrances against the property are discovered in the future.
- Quitclaim deeds – These types of deeds provide little protection to a person who will take ownership of a property. If any claims or encumbrances arise in the future, the new owner will be responsible for paying any required costs. Quitclaim deeds are generally used in situations where a home is gifted to a family member or someone else who has a relationship with the original owner. They may also be used to add or remove a person from a home’s title in the case of marriage or divorce or to resolve errors in public records that affect the ownership of a property.
Contact Our Plano Property Title Transfer Lawyers
If you are planning to buy, sell, or otherwise transfer ownership of a home, our attorneys can help you complete this process as quickly and efficiently as possible. We will advise you of the best ways to protect your interests when transferring the title of a property, and we will make sure you follow the correct steps throughout a transaction. To set up a free consultation and learn how we can assist you, contact our firm by calling (817) 349-7330. We assist with real estate title transfers and related matters in Arlington, Haltom City, White Settlement, Fort Worth, Plano, Saginaw, Dallas, Forest Hill, Richland Hills, and Tarrant County.