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It is a valuable tool to identify and document past owners of a property and serves as a property's historical ownership timeline. The "chain" runs from the present owner back to the original owner of the property. In situations where documentation of ownership is important, it is often necessary to reconstruct the chain of title.
For example, in Florida, a court will not grant a petition for a change of name if it finds that (i) the petitioner has ulterior or illegal motives in seeking the name change, (ii) the petitioner's civil rights are suspended, or (iii) granting the name change will invade the property rights (e.g., intellectual property rights) of others. [49]
A change of ownership may come about because of a sale of the land, or the death of the registered owner, or as a result of a court order, to name only the most common ways that ownership may change. Similarly, any interest which affects or limits the ownership rights of the registered owner, such as a mortgage , can also be noted on the register.
The journey of buying a property is incomplete without property registration; you need all the necessary documents before the property can lawfully be yours. While there is a contract between you and the seller, a change of ownership only occurs after the property is legally registered under your name in the government's data.
The named beneficiary will typically need to provide a death certificate — along with other required forms, such as tax waivers in certain states — to the brokerage firm, and the transfer will ...
Title is distinct from possession, a right that often accompanies ownership but is not necessarily sufficient to prove it (for example squatting). In many cases, possession and title may each be transferred independently of the other. For real property, land registration and recording provide public notice of ownership information.
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