Hello my friend lives in Northern Virginia and her sister owns a property, and her sister wants to transfer it over to her. How can she do this without having any money involved? Thank you.
Moshin,
Glad to meet you.
Deed:
A formal written instrument by which title to real property is transferred from one owner to another.
Deed of Trust:
Like a mortgage, a security instrument whereby real property is given as security for a debt.
Does your friend what to take title to the property by a transfer of deed or assume the deed of trust, which is the loan on the property? As you can see there is a difference.
If it is a simple transfer of deed (ownership) , depending on what type of deed is used in the state that the deed is being transferred, albeit Warranty Deed - General Warranty Deed - etc., find the correct document fill it out and have it recorded. The fees would be according to what the county charges for this type of transfer, which you can find out from where you record the deed at.
Start by calling your county office and ask them who to speak with concerning a transfer of deed.
John $Cash$ Locke