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A deed that is outside the chain of title is called a wild deed. The general rule is that a subsequent purchaser is not held to have constructive notice of a wild deed. In the example, Cooper's title is unprotected against subsequent good faith purchasers. Suppose Atwood were to fraudulently sell the same property to another person, Dunn.
A good title consists of the combination of these three (possession, right of possession, and right of property) in the same person(s). The extinguishing of ancient, forgotten, or unasserted claims, such as E's in the example above, was the original purpose of statutes of limitations. Otherwise, title to property would always be uncertain.
If a property doesn’t have a clear title, it’ll be a lot harder to sell or buy the home, or get a mortgage or homeowners insurance for it. In some cases, you could be responsible for paying a ...
A general warranty deed is the most common deed you'll come across in a standard home sale. It's "the physical representation of the transfer of ownership," says Kendall Bonner, a licensed Florida ...
The record title holder is not necessarily the actual owner of the land if there are previous unrecorded deeds to it to others. The principal legal theory is that once a person has conveyed the title to his or her property (or some aspect of it) to someone, he or she has nothing left to transfer to any subsequent person.
When you sell your home, the reconveyance deed is evidence that the property has a clear title, meaning it’s free from any outstanding mortgages or other liens or claims. Without the ...
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