Title is the legal way of saying you own a right to something. For real estate purposes, title refers to ownership of the property, meaning that you have the rights to use that property. It may be a partial interest in the property or it may be the full. The transfers can be less than the title that you actually have. It typically looks like 2 sheets of legal sized paper with names and a legal description on it. It's called a deed. A real estate title comes in many shapes forms and sizes, usually a deed. Deeds can be warranty deeds, foreclosure deeds, quitclaim deeds, etc. Title can be held by one person, or by two or more people as “joint tenants” or “tenants in common”. If the owners are registered as joint tenants, it means that if one of them dies, the property belongs to the surviving joint tenant. For real estate purposes, title refers to ownership of the property, meaning that you have the rights to use that property. Deeds, on the other hand, are actually the legal documents that transfer title from one person to another. It must be a written document, according to the Statute of Frauds. Deed is Evidence of Title It means an ownership interest. If you hold title, it simply means you own an interest in a property. If you have a deed to a house, it means that a transfer of interest in the property occurred on a particular date.
It is possible to be named on the title deed of a home without being on the mortgage. However, doing so assumes risks of ownership because the title is not free and clear of liens and possible other encumbrances. If a mortgage exists, it's best to work with the lender to make sure everyone on the title is protected.
Adding someone to your house deed requires the filing of a legal form known as a quitclaim deed. When executed and notarized, the quitclaim deed legally overrides the current deed to your home. By filing the quitclaim deed, you can add someone to the title of your home, in effect transferring a share of ownership.
A good deed is an action that one takes that is purely for the benefit of the receiving party in which you expect no compensation, recognition or thanks. You do it for the sake of being a helpful part of the human ecosystem. However, a good deed might not be a right action.
When you pay off your loan and you have a mortgage, the lender will send you, or the local recorder of deeds or office that handles the filing of real estate documents, a release of mortgage. This release of mortgage gets recorded or filed and gives notice to the world that the lien of the mortgage is no more.
The deeds will only be returned to the owner once the mortgage on the property has been fully paid although photocopies of the deeds can be requested at any time. If no mortgage is held on a property then the title deeds will be kept by the owner. They can either be kept in the home or they can be held by a solicitor.
There are five steps to remove a name from the property deed: Discuss property ownership interests. Access a copy of your title deed. Complete, review and sign the quitclaim or warranty form. Submit the quitclaim or warranty form. Request a certified copy of your quitclaim or warranty deed.
The definition of a title is the name of a person's job, the name of a creative work or a word used before someone's name to indicate his or her status. "Vice President of Marketing" is an example of a title. The Wizard of Oz is an example of a movie title. "Mr. " and "Mrs. " and "Dr. " are all examples of titles.
Like a quitclaim or warranty deed, the main purpose of the grant deed is to transfer property title from one person to another, such as from a seller to a buyer. A grant deed is written evidence that you actually own your property. Additionally, the grant deed provides title guarantees to the new owner.
Method 1 Searching With Tax Records Start with the tax assessor. All the information that most people will need or want to know about a deed will be on record with the county tax assessor, such as the current owner, sale dates, price history, and current valuation. Find the records section. Examine the record.
Deeds and Titles Property deeds are public record and available from the recorder's office or property records office of the county in which your home is located. When you purchase a house or other real property, you'll usually receive the deed when you close on the sale.
The person whose name is on the deed has the title to the property. It doesn't matter whether the property was transferred by purchase, inheritance or gift. It's the deed that transfers title. On the deed, you'll find the property's legal description, including property or boundary lines.
How to Find Out Whose Name Is on the Deed to a House Gather the address associated with the deed, or the lot number for the property, and take it to the Board of Assessment. Provide the address to the clerk in charge of the department. Take the name of the deed holder to the recorder of deeds located in the county courthouse, and provide it to the clerk.
The "title" to a home is the entire ownership package--including all warranty deeds and quitclaim deeds. A title search will decide who owns the property. However, in order to change the name on a title, you need to file a quitclaim deed. Contact all vested owners on the property.
Title Number This identifies the property and distinguishes it from other properties having similar addresses. If you have a property's Title Number this is all that is required to identify it and to obtain copies of the Title Register or any other registered document.