Subscribe to my YouTube Channel right here.
Okay, so how is the name transferred on the deed? Okay, so the name is transferred on the deed through a actual recording, right. So here’s what we do. I’ll pull it up for you guys. So you guys can actually see a recent one that got recorded a couple of days ago. So what happens is the title company is the person who transfers it over. This is the notice of recording. So right here, December 30. Check that out.
A couple days before closing before the end of the year notice of recording in Cumberland County, North Carolina. Still water Wilmington. Okay, cool. So basically, this is the receipt of a transfer of ownership. Okay, so this is on a triplex that we just bought from Christina and Tanisha, a couple of students in sub two, they found a seller who’s like I’m done with this property. I don’t want to deal with this anymore. I have a mortgage on it. I don’t want to deal with the tenants, I’m getting too old. And he basically just said, take over the payments, we literally gave the sellers $0.
For this property, the seller received $0 for transferring the ownership into our names. Now, how does the technical transfer happen in a subject to Cody? How does that technically happened? Do I just go down to the recorders office? Do I go through a title company? Like what do I do? How does that work?
Yeah, and the simplest, just like any real estate transaction you’re going to do whether you’re in a state with a title company or you have an attorney, you’re going to have your agreement that basically just says hey, I’m the buyer of this property I’m buying it subject to and in the paperwork the title company is going to or the attorney is essentially going to record it like the recording that pace just showed the title rep is going to be the one recording that literally I like this as an example almost but like pays has his registration for his car.
This is like the proof that he’s the owner of the car. Essentially, the title company is going to record proof that you are now the new owner of the property and that’s where that deed is going to be getting transferred. The debt is you know, still staying in place like he was explaining. Cody Do you want to do so do me a favor, go on the computer on like, open up another browser and log into MLS? And go to like monsoon and let’s pull up one of our properties to show people what a deed looks like. So Cody’s gonna pull up a property on 2720 North Sterling Avenue.
I bought this property a little over two years ago, man I’ve made a good amount of money on this one. Yeah, make that bad boy big. Okay, guys, so check this out. You’ll see actually I can barely see the names. Click it a couple more times. Make it bigger a couple more times. There we go. So you can see that swirl cactus holdings LLC, my holding company, and my wife individually as an individual. Got the copy of this warranty deed mailed to us. So there’s the escrow number so a lot of people like will show proof that this actually happens.
Well, there’s the escrow Number This was recorded at the county recorders office like what more do you want me to give you idiot? So scroll down to warranty deed we can show the sellers name the seller is a personal friend of mine, David B Barsky and Jeanne amazing amazing people transfer their properties ownership through this document so the warranty deed is the document that is utilized to prove ownership and you can see here’s the lot number.