A title transfer must be completed if you want to change the ownership of a property. There are a few processes needed, and they vary based on the type of property ownership, how the title is changed, and whether the property is mortgaged.

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A Guide to Transferring Property

People may seek to modify the ownership details of a property for a variety of reasons. It could be owing to a change in circumstances or the gifting of property to a family member. The type of conveyancing work required will also be determined by the reason.

This merely signifies that the title's name has to be modified or updated. For example, someone's name may have changed and the title must be adjusted. A person may have purchased a home before getting married and now want to add their spouse to the title. Perhaps someone has died and their name should be removed from the property title.

A property owner may wish to change their ownership structure because it is no longer relevant to them or the persons with whom they own the property. Property ownership, for example, could be transferred to a family trust.

Due to illness or old age, the owner may be unable to care for their property. If this is the case, they may prefer to entrust the property to a family member. A change of ownership may also occur as a result of the property owner's death. All of these situations would necessitate changes to the family's ownership.

A friend or family member may have assisted in the buying of a property. Perhaps it was a joint buy. If one owner's financial situation has changed, he or she may choose to buy out the other, necessitating the title to be altered. A divorce might also cause a shift in circumstances.

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