Deed vs. Title: The Real Estate Documents That Could Make or Break Your Property Deal
Download MP3What You'll Learn in This Episode:
- What is a Real Estate Deed?
- A recorded document that evidences a property transfer event
- Represents an action taken - transferring property rights from one party to another
- Contains grantor (person granting rights) and grantee (person receiving rights)
- Must include legal property description, not just an address
- Requires notarization and witnesses due to the large asset value involved
- Key Deed Requirements:
- Must identify the specific property with legal description
- Must state when the transfer happened
- Must explain why the transfer occurred
- Must be properly verified and notarized
- Each county has specific requirements to ensure legitimacy
- What is a Property Title?
- Not a single piece of paper like a car title
- An analysis of all historical records for a specific property
- Process of determining current property ownership through record examination
- Shows the complete chain of ownership transfers over time
- Understanding Title Searches:
- Process of reviewing all historical property records
- Determines who currently owns the property after all transactions
- Creates a "chain of title" showing ownership progression
- Results in a title abstract - one company's opinion of current ownership status
- Key Difference Explained:
- Deed = documents individual property transfer events
- Title = comprehensive analysis of all property records to determine current ownership
- Additional Property Documents Discussed:
- Tax liens and release of liens
- Mortgages and mortgage releases
- Different deed types: warranty deed, quit claim deed, probate deed
- Right of survivorship documents
- Trust deeds and life estates
- Why This Matters:
- Essential knowledge for property buyers and sellers
- Protects your interests in real estate transactions
- Understanding these documents prevents costly mistakes
Resources Mentioned:
- Website with additional real estate information
- One-on-one consultation services available
- Certified real estate title examiner and abstractor services
Protect yourself in your next real estate transaction by understanding these crucial document differences!
