A deed is the legal document that is used to transfer ownership of real estate when it is bought or sold or when someone passes away. The title of the property can change ownership many times and usually the deed is updated accordingly. There are many types of deeds and you may wonder how a California Deed works.
There is the basic deed or grant deed which gives the owner the right to transfer title of ownership of property or land to someone else. Then there is the quit claim deed which is used to remove the name of someone from the deed who no longer has an interest in the home or land. This type of deed may be used most in joint ownership when one of the owners moves out or gets divorced from their spouse. The trust deed is what mortgage lender holds if the home is involved in a foreclosure. These are the most commonly used deeds in California and while a deed is not exclusive to this state, other states may vary in what they use their deeds for or what they are called.
A deed should be notarized and recorded with the local county clerk for record keeping purposes. Those who have an interest in a property such as a lien, judgment or lawsuit against the owner need to be able to look up title to the home which is a public document. They need to see if any other claims on the said property are in effect to secure their interest in it.
When the sale of a home takes place there needs to be a change of ownership recorded on the deed and again filed with the county clerk. There are certain forms you need to fill out for change in ownership and these can usually be obtained from an attorney or law library or other legal entity.
To begin your search for a particular property record you must visit your local county clerk and ask to have access to them, there may be a small fee for a title search which you will have to pay. You can look up properties by the owners name or address of location. You may also want to hire a professional title search company to do this for you if you are in the market to buy a home or need one for other purposes.
There may be several reasons why you may want to do a search on a property you are interested in purchasing, the main reason is to see if any claims on the property exist that were not mentioned. Sometimes you may find that you will be responsible for settling these claims before the property can be purchased which makes it more expensive and less attractive. You can also use the services of a professional title searcher for this task.
Paying for a house in full will give you rights to the title of the home. You will receive a deed when the final payment has been processed by the lender. You may want to file the document away in a safe place to protect it for future reference. A locking safe is the best and if it is fire proof and waterproof that is even better. You can find these types of safes in office supply stores.
You may have questions concerning deeds that require more in depth knowledge. A real estate attorney may be able to assist you and consult with you on more complex matters. They will also help you in case there are any legal issues involving your home and be able to guide you in what you should do to protect your property.
There is the basic deed or grant deed which gives the owner the right to transfer title of ownership of property or land to someone else. Then there is the quit claim deed which is used to remove the name of someone from the deed who no longer has an interest in the home or land. This type of deed may be used most in joint ownership when one of the owners moves out or gets divorced from their spouse. The trust deed is what mortgage lender holds if the home is involved in a foreclosure. These are the most commonly used deeds in California and while a deed is not exclusive to this state, other states may vary in what they use their deeds for or what they are called.
A deed should be notarized and recorded with the local county clerk for record keeping purposes. Those who have an interest in a property such as a lien, judgment or lawsuit against the owner need to be able to look up title to the home which is a public document. They need to see if any other claims on the said property are in effect to secure their interest in it.
When the sale of a home takes place there needs to be a change of ownership recorded on the deed and again filed with the county clerk. There are certain forms you need to fill out for change in ownership and these can usually be obtained from an attorney or law library or other legal entity.
To begin your search for a particular property record you must visit your local county clerk and ask to have access to them, there may be a small fee for a title search which you will have to pay. You can look up properties by the owners name or address of location. You may also want to hire a professional title search company to do this for you if you are in the market to buy a home or need one for other purposes.
There may be several reasons why you may want to do a search on a property you are interested in purchasing, the main reason is to see if any claims on the property exist that were not mentioned. Sometimes you may find that you will be responsible for settling these claims before the property can be purchased which makes it more expensive and less attractive. You can also use the services of a professional title searcher for this task.
Paying for a house in full will give you rights to the title of the home. You will receive a deed when the final payment has been processed by the lender. You may want to file the document away in a safe place to protect it for future reference. A locking safe is the best and if it is fire proof and waterproof that is even better. You can find these types of safes in office supply stores.
You may have questions concerning deeds that require more in depth knowledge. A real estate attorney may be able to assist you and consult with you on more complex matters. They will also help you in case there are any legal issues involving your home and be able to guide you in what you should do to protect your property.
About the Author:
When you acquire property in the state, a California Deed of Trust is the legal proof that indicates ownership. Research on real estate investment property should include determining who has the California deed to the property.
No comments:
Post a Comment