In the past, when two properties could legally be changed hands, one property owner might engage in property deed transfer and the other could refuse. Often this resulted in the property going back to the first owner, who would then attempt to get legal rights of redemption for the property and take back the property through legal process. The original owner would usually fight back by filing an action in the county court to obtain legal rights of redemption. A judge would usually grant the original owner in their right back and then the case would end.
Title to real property is the legal right generally possessed only by the individuals owning the property. Every time a property changes owners, they have to undertake a property deed transfer to enable them to assume the title to that property. Usually, deeds are the vehicles through which an exchange takes place. The actual transferring of a property deed transfer typically is commonly filed at the records office or the registrant s office in the county in which the property is situated.
In most cases, you must commence the process of taking back ownership of real property by initiating a property deed transfer. It is important that you initiate the transfer process before there are any liens on the property because otherwise, you will not be able to complete the transaction. In addition, it is necessary that you obtain legal title insurance coverage to protect your interests before you undertake the transfer property. You must ensure that you obtain legal title insurance coverage even if you are transferring property via a public intermediary like a bank. If the transaction is completed successfully, you will reap significant tax benefits as well.