Whether you are inheriting a property that has been in the family through generations or are preparing to purchase a new home for the first time, transferring ownership of a land title is a key process that ensures your state knows exactly who owns what. Whether you’re buying or selling, inheriting or gifting, it’s good to know the basics of how transferring a land title —also known as conveyancing — so you can keep track of your assets.

Here’s some basic terms you need to know if you’re getting ready to transfer a land title!

Deeds

A deed is a document that actually transfers ownership of property from one person to another. There are many types of deeds in a property transaction, but the basic structure is that a deed establishes an official property description, the current owner (grantor), and who the new owner will be (the grantee).

Recording the Deed

Recording the deed is the final step in transferring a title. This is where the county records who now owns a property at the end of a transfer. This step is super important because ownership is not considered “official” until the final results of the transfer have been recorded in a public record. The recording process will vary by state, so make sure you’ve got some local help!

Title Specifics

The title specifics dictate what happens if an owner dies. These details can impact how a property is being inherited or how it will be passed on in the future. With “joint tenancy” specifics, if one owner dies, ownership will transfer to the other owner(s). In “tenancy in common” specifics, if one owner dies, their stake in the property will go to their heirs instead of the other owners.

General Warranties

A general warranty totally and absolutely transfers a land title to a new owner. Title agencies will trace title transfers back to the property’s first owner and ensure no one else has a claim and there are no liens outstanding. This way, the grantor receives the right to the entire property and is protected from any future claims on the property.

Transferring a land title is a multi-faceted process, and it’s critical that all the steps are executed properly to avoid legal issues or questions about ownership down the line. Whether it’s a matter of inheriting, buying, or selling a property, make sure you’ve got the right title agency to assist you with the details you may not understand!