How Much Does a Deed Transfer Cost?
A deed transfer is a process of transferring the ownership of a property from the legal owner to another party. This process is not limited to an individual as the term can also apply to transferring ownership of one business to another owner. Usually, you will need to perform a deed transfer if you want to either remove someone’s name or change ownership.
There are different types of deed transfers, and based on the terms of each, the price can be different. One type of deed transfer is a quitclaim deed, which is considered to be the most common type of deed transfer. Another type of deed transfer is the warranty deed, which includes some sort of responsibility for repairing breakdowns once the deed of the property has been transferred.
The price of a deed transfer will vary depending upon the state, the terms, type of deed and if a professional is involved.
How much is it?
- On average, filing a deed on your own can cost anywhere from $30 to $150, while hiring a professional service and/or lawyer can cost upwards of $500, plus filing fee.
- Investopedia says it can cost about $250 if you were to use an online service such as LegalZoom, plus the filing fees.
- For example, in the town of Barnstable, Massachusetts, a deed transfer will cost $125 if you file yourself.
What is going to be included?
- If you choose a lawyer, he or she will be able to prepare and file the real estate transfer deed, but before they do this, they will evaluate if changing the titled owner will be in your best interest. If so the attorney will confirm the current owners, obtain basic information from you and will establish a legal description of the property. When everything is prepared, you will simply sign the deed and it will be filed with the local county’s recorder office. Once the deed transfer is filed with the county, it can take up to four to six weeks to process, and when complete, you will receive a new deed in the mail.
What are the extra costs?
- A filing fee, aside from the fees mentioned above, will be considered an additional cost which can be priced anywhere from $30 to $60 depending on where you live.
How can I save money?
- Filing a deed transfer can be a tricky process. While it can be done on your own, it does not hurt to talk with the local court to learn more about the process. Many lawyers can offer free consultations to explain their costs and what they can do for you.
- There is no harm in asking attorneys for the best way to go before acquiring a deed and getting their service. If hiring a professional, ask for a referral or check with your local state bar. If you’re going to use an attorney, services like LegalMatch can help you find a reputable lawyer in your area.
- Consider transferring a deed yourself using online lawyer services such as LegalZoom.com. Not only are these services going to get the job done right, they are going to be a lot cheaper than the lawyers that you meet with in your local area.
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