Chapter 12Transfer of Title

Despite technology, real estate is not a paperless industry. A wide variety of documents are needed to establish title, transfer title, and track ownership rights.

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12 Transfer of Title

• Learning objectives– Identify the basic requirements for a valid deed– Describe the fundamental types of deeds– Explain how property may be transferred through

involuntary alienation– Distinguish transfers of title by will from transfers by

intestacy

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12 Transfer of Title

• Voluntary alienation– A grantor conveys property to a grantee– A grantee receives property from a grantor– A deed is the instrument that conveys property from a

grantor to a grantee

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12 Transfer of Title• Requirements for a valid deed

– Grantor with legal capacity to execute the deed– Identifiable, named grantee– Recital of consideration– Granting clause– Habendum clause– Accurate legal description of the property conveyed– Exceptions or reservations– Signature of the grantor– Acknowledgement– Delivery and acceptance

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12 Transfer of Title

• Types of deeds– General warranty deed– Special warranty deed– Bargain and Sale deed– Quitclaim deed– Deed of trust– Reconveyance deed– Trustee’s deed– Deed executed pursuant to court order

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12 Transfer of Title

• Transfer tax– Payable when deed is recorded. Imposed on seller but

may be paid by buyer– Calculating the Georgia transfer tax– Exemptions from transfer tax

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12 Transfer of Title

• Involuntary alienation– Transfer by adverse possession

• Open• Notorious• Continuous• Hostile• Adverse to true owner’s possession• Accompanied by a claim of right in the possessor• Free of originating in fraud

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12 Transfer of Title

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12 Transfer of Title

• Transfer of deceased person’s property– Transfer of title by will– Transfer of title by descent– Probate proceedings