Ohio Real Estate Law: How to Handle Property Deeds

Understanding Ohio real estate law is essential for anyone involved in property transactions within the state. One of the key aspects of these transactions is property deeds, which serve as legal documents to convey ownership. This article will delve into the specifics of how to handle property deeds in Ohio.

Types of Property Deeds in Ohio

Ohio recognizes several types of deeds, each serving different purposes:

• Warranty Deed: This type of deed offers the highest level of protection to the buyer. It guarantees that the seller holds clear title to the property and has the right to sell it.
• Quitclaim Deed: A quitclaim deed transfers any interest the seller may have in the property without any warranties. This is often used among family members or in divorce settlements.
• Special Warranty Deed: This deed only warrants against claims that arose during the time the seller owned the property, protecting the buyer from those specific past claims.

Drafting and Executing Property Deeds

When drafting a property deed in Ohio, it is important to include the following elements:

• The date of the transaction.
• The full names and addresses of both the grantor (seller) and grantee (buyer).
• A clear legal description of the property, typically obtained from the current deed or property records.
• The consideration or the amount exchanged for the property.
• The signatures of the grantor and a notary public, who must witness the signing of the deed.

After the deed is executed, it needs to be recorded with the county recorder's office in Ohio to provide public notice of the change in ownership. This step is crucial to protect legal rights and interests in the property.

Understanding Title Searches

Before finalizing any property transaction, it is advisable to conduct a title search. A title search examines public records to confirm that the property title is free from encumbrances, such as liens or mortgages. This process helps identify any potential issues that could affect ownership and ensures that the buyer is acquiring a clear title.

Transferring Ownership: Special Considerations

Some special circumstances may arise when handling property deeds in Ohio:

• Inheriting Property: If a property is inherited, the heir may need to provide a death certificate and possibly go through probate before they can transfer ownership through a deed.
• Transferring to a Trust: If the property is being transferred to a trust, specific language must be included in the deed to reflect this accurately.
• Joint Tenancy and Tenancy by the Entirety: These types of ownership share unique implications regarding property transfer and survivorship rights.

Conclusion

Handling property deeds in Ohio requires a solid understanding of local real estate laws, along with careful attention to the documentation and execution process. Whether you are a buyer, seller, or real estate professional, being informed about the types of deeds, the importance of title searches, and special circumstances impacting ownership transfers can help ensure a smooth transaction. For specific legal advice, consulting a qualified real estate attorney is always recommended.