A property deed is what you use to transfer the possession of property from one person to another. In the event that you’re buying a home from somebody, this is among many files you’ll signal when possession is transferred. It has to be filed with your county clerk or tax assessor collector, should be witnessed by an authorized officer and its contents have to be true.
Types of Deeds
There are lots of forms of property deeds, each of which has its own function. In a grant deed, the seller transfers the title of their property outright to the purchaser. A quitclaim deed transfers your rights in a parcel of property to another person. This deed is often used between family members. A warranty deed transfers your house to another with assurances that you own the house free and clear. A warranty deed provides reimbursement to the person who you transfer the deed if there are issues with the offer. There is also the deed of trust. This provides your lender quick recourse if you default on the loan. These deeds usually provide for a quick, non-judicial foreclosure process.
When you file any type of property deed, any paperwork connected to the house is also registered. This can include your mortgage agreement with your lender, any easements on the property or some other lawsuits. The function of this is a real estate deed is a matter of public record. If someone were to look for the title, every one these documents would be available for perusal.
Making It Official
The most important hurdle to creating a home deed official is that the touch of a notary public. Your deed must be signed before a notary public. Your notary must affix his seal on the document, along with his signature. In case of dispute, a judge can throw a deed if it is not correctly notarized. Once the deed is notarized, it is ready to be filed in the county clerk’s office.
Things to Check
Before turning over your deed to the county, there are several things you should check. You must always check to make sure that your name, and the names of anybody on the document, are correct. Double check that the legal description of the property being moved. Note any expenses associated with the deed and make certain that they are correct. Don’t sign the document unless the entire document is correct and to your satisfaction. If it is not, consult with a lawyer.
Finding a Deed
Many men and women use a title company to look for a property deed. Nonetheless, it is possible to do it yourself. For example, in California, all you need is the current deed holder’s name to look up the deed in the county records office. You might also use the house address, if you do not know the current deed holder. In most counties, you might also use the county’s site to conduct a title search for a house. The process is a long one, however, and that is the reason many lenders and homeowners hire a title company.