Transferring Ownership

Transferring ownership means changing the legal rights and responsibilities of a property or asset from one person or entity to another. This process usually involves a formal agreement, such as a sale, gift, or inheritance, and often requires documentation like a deed or title. The new owner then has the legal authority to use, sell, or manage the asset. Proper transfer ensures clarity on who is responsible for the property and protects both parties’ interests, often involving legal or administrative steps to make the transfer official and recognized by law.