Property Title, What Is It???

Comments(6)

• 
  flacorps27th October, 2003

  One may have a deed to a piece of property. Anybody can write one up ... to property he doesn't own (selling the Brooklyn Bridge, for instance).
  
  If that deed has apparent validity ... if the deed comes from someone who has "title" at the time, the person to whom the property is deeded on that deed can be said to have title.
  
  It's like a "chain of custody" for a criminal sample. If you got it from someone who swore to have gotten it from someone who swore to have gotten it from O.J., you have O.J.'s DNA as far as the court is concerned.

• 
  TheShortSalePro27th October, 2003

  I don't know if this helps, but "all the elements which constitute elements of ownership" The rigth to, or ownership in land.

• 
  Perluser27th October, 2003

  Thanks for a quick reply!
  
  Ok,
  
  So if I understand correctly, there is nothing exists as a Physical Title, right?
  
  Instead, “Marketable Title to the Real Property” may be called any combination of legal proofs provided by the person who is currently listed as an owner of the aforementioned property (Deed, any existing Mortgage documents, Note, etc) anything that can prove that said person who is giving the Deed is an actual owner?
  
  In this case is there a any minimum requirement for a number of proofs that must be served by the owner before he may be considered a rightful person to sign over a Deed to the Real Property?
  
  Thanks!
  
  PerlUser.
  [ Edited by Perluser on Date 10/27/2003 ]

• 
  NancyChadwick27th October, 2003

  Quote:
  On 2003-10-27 17:08, Perluser wrote:
  Thanks for a quick reply!
  
  Ok,
  
  So if I understand correctly, there is nothing exists as a Physical Title, right?
  
  Instead, “Marketable Title to the Real Property” may be called any combination of legal proofs provided by the person who is currently listed as an owner of the aforementioned property (Deed, any existing Mortgage documents, Note, etc) anything that can prove that said person who is giving the Deed is an actual owner?
  
  In this case is there a any minimum requirement for a number of proofs that must be served by the owner before he may be considered a rightful person to sign over a Deed to the Real Property?
  
  Thanks!
  
  PerlUser.
  <IMG SRC="images/forum/smilies/icon_eek.gif">
  
  <font size=-1>[ Edited by Perluser on Date 10/27/2003 ]</font>
  
  
  In PA, when someone is buying real estate, they have a title insurance company search the title on the property at the courthouse for the county in which the property is located. This reveals identity of current owners, copy of deed recorded and any other documents recorded, such as mortgage, easements, etc. At settlement, the seller signs the deed given the buyer. Typically, title companies require sellers (and buyers) to provide photo ID as some assurance that they are who they say they are and they also sign affidavits at closing. In a sense "title to property" is physical since you have a deed.

• 
  flacorps27th October, 2003

  Quote:In this case is there a any minimum requirement for a number of proofs that must be served by the owner before he may be considered a rightful person to sign over a Deed to the Real Property?A seller should be able to prove his or her identity in a satisfactory manner.
  
  Possession of the original deed that has actually been recorded (that you can match with the copy obtained from the courhouse), along with some government-issued picture ID ought to be enough. Without the oriignal deed, further inquiries are warranted in order to negate the possibility that you are dealing with a forger.
  
  Forgery is uncommon, but not unheard-of. Especially in larger cities. In small towns, people generally know who owns what.

• 
  Perluser27th October, 2003

  Thanks Flacorps,
  
  I think this covers the subject!
  
  Regards,
  
  PerlUser.