Home Ownership Papers: Titles and Deeds
A lot like many other sorts of investments, the major thing that you
will want to show at the end of the process is a piece of paper. This
is the same concept with real estate. The type of paper that you will
want to hold at the end of the loan is either a title or a deed. This
will allow you to show the locality that live in that you own the
house and have paid off your loan.
A title is a certificate or confirmation that you own the property or
home that you have been paying off. It can also mean that while
someone else is on the property or land, an owner has the legal rights
that are part of the property. When you have a title as a piece of
documentation, it will usually be matched in the records of the
locality that you are at as well as by the one who has sold the
property.
A deed is a parallel type of record that will be used in the process
of gaining a title. Often times, those who are investing in real
estate will receive a deed as a transaction paper to the title. This
shows that the person who will be getting the property has the right
to the title as well as the right to the property. Usually, there will
be several legal factors and regulations that are bound to this type
of documentation in order to make sure that the transaction is fair.
When you are about to receive a title or a deed for a home or piece of
property, there are many steps you will have to take. First, a proof
of insurance will have to be shown. You will also need copies that
prove that you bought the house. The person who is selling you the
home or property will also have to have these proofs for purchase.
This includes a purchase agreement, invoices, receipts from the
mortgage and proof of satisfaction that the one who is buying the
property has met all of the requirements for purchase of the property.
The very last step to making your home completely yours is to confirm
that you have the title or deed in your hand. By understanding the
process of getting a title, and making sure that you walk into the
final closing ready to make the exchange, you can own the piece of
property that you have been working towards.
ABOUT THE AUTHOR
Bob Schwartz, is a Certified Residential
Specialist, CA licensed real estate broker with
www.Brokerforyou.com. Bob
has over 27 years of residential real estate experience, authored a
number of published articles and served as an expert witness for
San Diego lawyers. You can contact
Bob via e-mail at bob@brokerforyou.com or visit his highly popular
San Diego real estate website at:
http://www.brokerforyou.com
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