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Properties that are sold on the basis of equitable title have a legal chain of title intact, and a recorded transfer with the local municipality. Legal title is actual ownership of the property as when the property has been bought, the seller paid in full and a deed or title is properly recorded. Equitable title separates from legal title upon ...
In the transfer of real estate, a deed conveys ownership from the old owner (the grantor) to the new owner (the grantee), and can include various warranties. The precise name and nature of these warranties differ by jurisdiction. Often, however, the basic differences between them is the degree to which the grantor warrants the title.
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.
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 ...
Transfer taxes are applied to a change of ownership for any type of property that requires a title, as stipulated by a deed or other legal document, according to Paul Miller, CPA and managing ...
The Registry of Deeds has since 1708 dealt with the registration of wills, marriage settlements, title deeds, mortgage documents and other documentation concerning granting of title over land. It was originally set up to enforce the legislation regarding ownership of land by Catholics. A registered deed took precedence over an unregistered deed.
In comparison to the atlas (also called a plat map or cadastral map), which is a graphic representation of land ownership in a township for the date of publication, the tract index is relatively dynamic. [2]
Deeds registration is a land management system whereby all important instruments which relate to the common law title to parcels of land are registered on a government-maintained register, to facilitate the transfer of title.
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