Unlike buying or selling a piece of real estate, transferring real estate is a fairly simple procedure that requires a few legal documents, as well as the payment of real estate taxes. In fact, transferring property in South Carolina, as well as most other states, requires only the legal owner's signature on the title and a general warranty deed to convey ownership of the property from the one owner to another. You should have received a warranty deed when you originally purchased (or received) the property; to transfer ownership, you will simply need to file another with the state to show that you will no longer be the legal owner of the property.
Step 1
Review the property title to see who is officially listed on it. If your name alone is listed on the property title, you may transfer the property without any trouble. If you share the title of the property with others, you will need their consent – in signature – to transfer the real estate.
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Step 2
Sign the title over to the new owner in the place that is noted. Real estate titles contain spaces on which the current owner of the property can indicate transference to another owner by signature. You and the new owner will need to sign and date the title in the indicated places to complete the transfer legally. If you have ever sold a car, the process is similar: On the back of the title, there is a place for you and the new owner to sign for title transference. It will be up to the new owner to submit this title to the state to apply for a new title.
Step 3
Complete a general warranty deed to show the transfer of ownership from you to another. The deed requires that you provide the following information: the official value of the property (as indicated on your property tax records); your name and the name of the new owner; the location of the property (city and county) and a description of it (check tax records again); signatures from you and the new owner; and notarization.
Step 4
Pay the real estate transfer tax as levied in South Carolina.
Tip
Use a real estate lawyer to help you through the process of transferring real estate. While the process itself is fairly simple, the real estate lawyer can review all documents to ensure that the transfer is completed correctly. Failing to complete a legal transfer can make you liable for the property without even realizing it.
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