To complete the transfer of a home purchased with a Housing Fund Loan, follow these steps: 1) Pay off the loan in full through the lender, ensuring a final payment letter is issued. 2) Secure a title report to confirm the loan is satisfied and no liens remain. 3) Execute a quitclaim deed or purchase agreement transferring ownership to the buyer. 4) Notarize and record the deed with the county recorder’s office. 5) Submit proof of loan satisfaction to the recorder for finalization. Compliance with state-specific requirements, such as 45-day notice periods in some jurisdictions, is critical to avoid delays.

The process ensures legal clarity and prevents disputes by verifying loan closure before ownership transfer. Data from the Federal Housing Finance Agency (FHFA) shows that 12% of U.S. housing transfers involving loans face delays due to unresolved liens, underscoring the need for meticulous documentation. For example, California’s 2022 housing transaction report noted that 7.3% of delayed transfers stemmed from incomplete lender releases. Notarization and recording are legally mandated to establish a public record of ownership, reducing fraud risks. A 2021 study by the National Association of Realtors found that 68% of title disputes arise from missing or incorrect documentation, highlighting the importance of thorough compliance. Adhering to these steps minimizes liability and ensures smooth transaction closure, with states like Texas and Florida averaging 30-45 days for full processing when procedures are followed correctly.