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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 ...
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.
Examples are those getting the property as a gift and heirs. Also, those who purchase ownership interests in the owners of the property, such as shares of stock in a corporation owning the land, have not purchased an interest in the property itself and so are unprotected. Also, recording laws generally do not protect purchasers against real ...
In 2015, Texas law was changed to automatically place the legal title to the property with the buyer by filing the contract with the deed records office of the county where the property is located. While the seller loses title, the seller retains a vendor's lien in the property for the outstanding balance of the contract. [3]
So, a deed in lieu of foreclosure is the legal process in which the title of a home (the deed) ... It may make it possible to buy a house sooner. There’s less public embarrassment: Your home won ...
When purchasing a home, there are a number of very important legal documents involved. Two such documents that you may encounter are a warranty deed and a deed of trust. A financial advisor could ...
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.
This is a deed "for which the grantor implies to have or have had an interest in the property but offers no warranties of title to the grantee." [2] Under common law, this type of deed technically created a use in the buyer who then gets the title. [3] Under the statute of uses, modern real property law disregards this subtle distinction ...
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