The transfer of ownership is the formal legal process that moves rights, title, and interest in a property from the seller to the buyer. This process requires a third party, which is typically an escrow company. They will prepare the documents, such as the deed and registration with tax authorities.
Once you sign the deed to transfer ownership and the escrow records it with the county, the property is officially ours. At this point, you receive your cash payment.
Conducting the transfer of ownership through an escrow makes the process legally binding and transparent. This service also means you won’t need to handle any of the filings, resulting in added convenience.
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