How Do I Transfer SREC Ownership After Buying or Selling a Home?
If you recently bought or sold a home with solar panels, the SREC registration must also be transferred to the new homeowner. This allows the new owner to receive future SREC payments and ensures the solar system remains properly registered with the state.
What Information Do We Need?
To begin the ownership transfer process, Sol Systems typically requires the following information from the new homeowner:
- Property closing date
- New owner’s full name
- Phone number
- Email address
- A fully signed copy of the closing documentation, such as:
- HUD-1 Settlement Statement
- Deed
- Purchase and Sale Agreement
- MARYLAND SPECIFIC: Maryland requires this form to be completed. You will need to fill it out, including the previous owner name and system size, sign it and send it to your utility company for their signature: Interconnection Agreement Change Notice
If the previous homeowner is not enrolled in direct deposit (ACH), they should also provide an updated mailing address so any final SREC payments can be mailed correctly.
What Happens After I Submit My Documents?
Once all required documentation has been received:
- Sol Systems will prepare the necessary ownership transfer forms through DocuSign.
- Both the previous and new homeowner will be required to sign transfer documents.
- Sol Systems will send out the existing contract that the new owner will take over
- Sol Systems will submit the completed application to the appropriate state program and REC tracking system.
Approval timelines vary depending on the state and program requirements.
What Else Do I Need to Know?
Please check out our FAQ Page in addition to other helpful articles on our HelpCenter