Each US state is a separate state, and it has its areas. In each area: there are civil, criminal, land courts. In the land court and recorded all handovers of ownership rights.
They record not only the change of ownership but all changes regarding this property. And the registration of each such change is quite expensive. Thus, it is impossible to rewrite the apartment to another holder – a whole pile of necessary documents will be requested. In this case, US residents can exercise their right for AST transfer of ownership with W 9 form. One can download the paper’s template at the IRS official website.
Information to Indicate
The W9 form must be filled out very carefully, as the owner is responsible for the information provided. Data that must be specified:
- Information about the current owner: name, registration address, citizenship, etc.;
- Reliable information about the transferred proprietorship indicating registration papers;
- Information about the person to whom the property will be handover;
- If the property is in pledge or does not have any financial arrest/penalty, one should enter this data into the document.
It is imperative that one specifies a valid taxpayer number, which has ownership rights at the time of filling the W9 paper in. Thus, the tax office will be able to identify and verify the specified data.
With a lack of skills, an ordinary person may make mistakes when filling out this document. Therefore, many people prefer to trust relevant companies in this routine work. Both individuals and legal entities use the services of such companies. Professionals do not just work for money but are responsible for the result.
IRS fillable forms W9 must be signed by the current owner of the transferred property. However, one should transfer the right of a signature to the legal representative or guardian. In such cases, it is also necessary to identify the document based on which the property owner cannot sign W9 form independently (power of attorney, inheritance case, etc.). One should send the completed document to the AST: after it, he/she should wait for the end of the verification period (up to 20 days).