The rules for letting a property to family?
Transferring ownership of a home to a family member is a process that is not too complicated. However, before doing so, you should bear in mind that once the transfer has been made, you will no longer have control and possession of the house.
There are different ways to transfer the ownership of a house or any other property to a relative. However, there are some that are usually the most common and, in the end, the easiest to carry out. It is usually advisable to always have the advice of a lawyer.
The waiver and transfer on death
One of the procedures we can carry out is to use a waiver of ownership document. This document can be obtained from the deed registry of the place where the house is located. All you have to do is fill in the form, sign the deed before a notary and hand in the deed. Once this is done, the family will have to register the deed.
Another option is to use a deed of transfer on the death of the deceased. This type of deed allows us to maintain control of the property while we are alive, but it is transferred to the chosen relative upon the death of the owner without having to go through an inheritance.
The deed of guarantee and the regime of joint property
A third possibility is through the warranty deed. As this is a complicated process, it is necessary to have the help of a lawyer. In this case, it would also be necessary to sign the deed before a notary public and ensure that the chosen relative registers the deed.
A final alternative would be to create a joint property regime. Here what we have to do is a new deed in which the owner and the relative are listed as co-owners with a right of survivorship. The deed is signed before a notary and registered to avoid succession.