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Commonly Asked Questions about Individual to Individual Real Estate Transfer

Family members can transfer property to one another without estate tax penalties by putting the property into a trust. When placed into an irrevocable trust, the property is no longer considered part of your estate after you die.
assignment, grant. (law) a transfer of property by deed of conveyance. escheat. the property that reverts to the state.
Conveyance is the act of transferring property from one party to another. The term is commonly used in real estate transactions when buyers and sellers transfer ownership of land, building, or home. A conveyance is done using an instrument of conveyancea legal document such as a contract, lease, title, or deed.
AGENT One who is authorized to represent and to act on behalf of another person (called the principal). A real estate broker is the agent of his client, be it the seller or buyer, to whom he owes a fiduciary obligation.
Annexation. The process of converting personal property into real property. Real Property versus Personal Property.
Types of Deeds: Warranty and Quitclaim There are two types of warranty deeds, general warranty deeds and special warranty deeds. The most common way to transfer property is through a general warranty deed (sometimes called a grant deed). A general warranty deed guarantees good title from the beginning of time.
The most common way to transfer property is through a general warranty deed (sometimes called a grant deed). A general warranty deed guarantees good title from the beginning of time.