An ownership transfer agreement is done via a contract or other legal document, such as a title or deed. For instance, a deed is a legal document used to convey or transfer ownership of real estate property.
The transfer of ownership agreement must provide the legal names of all parties involved. This includes the current owners of the property and the parties receiving the property.
A description of the property being conveyed is required in an ownership transfer agreement.
Terms and Conditions
An ownership transfer document also spells out the terms of the transfer agreement. This includes the date the transfer occurs and the obligation of each party in the transfer.