Spread Out Title Deed For Free

Your sale deed is a title deed because it acts as a statement of your ownership over an asset. The sale deed becomes a title deed as soon as it is registered, as it serves as proof that you now own a specific property.

Similar to an abstract, a chain of title acts as a history of a property's ownership throughout the years, such as who previously owned it and when. Unlike an abstract of title, it's not a physical document, but a general history of the property and how its title has passed from owner to owner.

The chain of title traces the historical transfer of ownership from the current owner back to the original owner. Keeping rigorous and accurate title records is important in order to establish ownership of property or an asset.

A title deed is a legal document that outlines the inheritance, ownership, transfer, or allocation of the property by a government body. It contains details on a person's ownership rights or the amount of land they own. Title deeds are used to transfer a person's ownership rights over land to another person.

A title company will prepare the chain of title upon request for a title search. A title search is most often requested when a purchaser wants to purchase a property and verify the current ownership. When people purchase a property, they are also granted the title to the property.

At the closing, a borrower will sign the following documents that establish chain of title: The promissory note ? a legal instrument in which one party (the mortgagor or borrower) promises to pay the designated sum of money to another party (the lender or mortgagee). This is basically an IOU to your mortgage lender.

Chain of title is the historical record of ownership transfers of a specific piece of property. The chain of title is imperative to establishing legal ownership of real estate, vehicles, patents, and other tangible and intangible property.