Definition of Transfer of Ownership

Transfer of Ownership in Orange County

Any means by which the ownership of a property changes hands is considered an Orange County Transfer of Ownership. Lenders consider all of the following situations to be a transfer of ownership: the purchase of a property "subject to" the Orange County, CA mortgage, the assumption of the mortgage debt by the property purchaser, and any exchange of possession of the property under a Orange County land sales contract.

 

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