The point at which ownership of a newly built residence legally transfers from the builder to the buyer is a crucial milestone in the home buying process. This event signifies the conclusion of the construction phase and the beginning of the homeowner’s occupancy. It involves the finalization of all financial and legal aspects of the purchase.
The timing of this transfer is significant because it marks the moment the buyer assumes responsibility for the property. It also represents the culmination of months, or sometimes years, of planning and investment. Successfully navigating to this stage provides the buyer with security and the realization of their investment.