The term "property ownership transfer" refers to the transfer of a property’s title deed from its current owner to a new owner. A tax is levied on property ownership transfers.
Property sales, exchanges, gifts and inheritances are all common private forms of property ownership transfer. In each of these cases, a notary must enter transfer information into a registry.
In addition to private ownership transactions, property ownership transfers also include publicly dictated transfers such as compulsory purchases and foreclosures.
A property ownership transfer in the business world could, for example, involve changes to a real estate society’s group of shareholders.
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