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Transferring Ownership to the Child Records

Purpose

Use this procedure to transfer ownership of a UDI parent property record to the child property records.

Procedure

  1. Open the UDI parent property record, and then click the Owner-Agent tab.
  2. Select the child you want to transfer ownership to, and then click Property.

    The child property record is displayed.

  3. In the child property record, click the Deeds-Sales tab.
  4. Click Owner Transfer.

    The Ownership Transfer Wizard is displayed.

  5. Click Next.

    Another version of the Ownership Transfer Wizard dialog box is displayed with a top pane for adding buyers and a bottom pane for displaying the ownership percentage of the selected buyer.

  6. Use Search or New to add buyers and display them in the top pane of the Ownership Transfer Wizard dialog box. Then click Next.

    Another version of the Ownership Transfer Wizard dialog box is displayed with options for entering deed information and generating letters.

  7. Select options for deed and letter generation information as required, and then click Next.

    Another version of the Ownership Transfer Wizard dialog box is displayed with selection options for exemptions, property groups, and agents.

  8. Select the options as required, and then click Next.

    Another version of the Ownership Transfer Wizard dialog box is displayed with owner transfer details to be verified.

  9. Click Finish.

    The child property record is displayed with updated owner information.

  10. Verify the ownership percentages in the parent record.
    1. Click Parent.

      The parent property record is displayed.

    2. Select a child property record, and then click Percent Ownership.
    3. The Property Ownership Maintenance dialog box is displayed.
    4. If required, modify the ownership percentages. Then click OK.

Result

The system transfers ownership to the new child records.