Selling and transferring real estate are separate actions that come with their own rules and requirements. Each activity requires unique documentation.
Although closely related, selling real estate and transferring real estate are not fundamentally linked. You can transfer real estate to someone without selling it, but you can't sell it without transferring the property title to the new buyer.
Selling a house or piece of real estate
Selling your house means you're accepting a buyer's money in return for your home. Depending on the housing market and your property, selling your home can be a quick or drawn-out process. You can sell your real estate property with or without the help of a real estate agent.
Sometimes, you have to sell your home due to factors out of your control. Other times, you may just be ready for a change. Selling your real estate requires you to transfer the property title to the buyer as well. However, if you simply want to give a property to someone else as a gift, selling your home is not required.
There are many instances where people transfer a title without selling the property. For example, you may transfer your family home to your adult children when you move into senior-specific living or downsize into a smaller home.
Transfer of property
Whether you are selling a piece of real estate or giving it away as a gift, you always have to transfer the title to the new owner when giving up ownership of a property.
Transferring real estate involves changing the property title from one person to another by filing the necessary paperwork with your county recording office. Usually, creating a deed and filing it completes the ownership change.
A deed is a legal document that transfers a property's title to someone new, proving that they have ownership. You can also file a deed to add an additional owner or remove a joint owner.