There are two big moments to celebrate when it comes to real estate for most people in Ohio, who have the goal of owning their own homes or the location of their businesses. The first is when they close a sale as the buyer, and the second is when they close a sale as the seller. This happens even more often when property speculators buy and sell properties in quick succession.
- How do people transfer real estate?
Each applicable property in Ohio should be recorded along with its ownership in the county records of the county where the property is. Titles are the documents that show ownership, and these are also recorded by the county. Deeds are usually the documents that transfer titles from one owner to the other. Deeds are part of a class of legal documents called real property instruments.
- When are owners legally able to transfer titles?
A title search is often conducted, which shows confirmation of a seller's ownership of the land in question. There may also be a check that a title refers specifically to the property in question. The main function of this search is to confirm ownership and check for tax liens or other encumbrances that would either prevent the sale or transfer liability to the seller as well as the property.
- How can buyers make sure they are getting a fair deal?
One of the best friends that a property buyer can have is an attorney to review the process of real estate title transfer. A lawyer can also gather the required documents and prepare them for the county records.