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In some cases, a title can also serve as a permanent legal record of condemnation of property, such as in the case of an automobile junk or salvage title. In the case of real estate, the legal instrument used to transfer title from one person or entity to another is via the deed.
The title-transfer theory of contract (TTToC) is a legal interpretation of contracts developed by economist Murray Rothbard and jurist Williamson Evers. The theory interprets all contractual obligations in terms of property rights , [ 1 ] [ 2 ] viewing a contract as a bundle of title transfers.
In law, conveyancing is the transfer of legal title of real property from one person to another, or the granting of an encumbrance such as a mortgage or a lien. [1] A typical conveyancing transaction has two major phases: the exchange of contracts (when equitable interests are created) and completion (also called settlement, when legal title passes and equitable rights merge with the legal title).
You need to sign the title to transfer ownership, even if you're gifting to a family member. Many states still recommend a bill of sale that lists the name of the previous owner, the mileage, and ...
A lease buyout title transfer is a procedure you need to complete to own your leased vehicle. Learn more about the process to ensure everything goes smoothly.
A deed of reconveyance is a document that transfers the title of a property from the bank or mortgage company to the borrower once they’ve fully paid off the debt. ... This could mean statutory ...
A deed of trust is not used to transfer property directly. It is commonly used in some states — California, for example — to transfer title to land to a “trustee”, usually a trust or title company, which holds the title as security ("in escrow") for a loan. When the loan is paid off, title is transferred to the borrower by recording a ...
Torrens title is a land registration and land transfer system in which a state creates and maintains a register of land holdings, which serves as the conclusive evidence (termed "indefeasibility") of title of the person recorded on the register as the proprietor (owner), and of all other interests recorded on the register.