A property record is a legal document that provides information about a specific piece of land. This record is referred to as the deed and details information about who legally owns the property.
Once both parties sign the document transferring ownership, this document must be filed with the recorder of the deeds. These records are often maintained in the county records department where the property is located.
This office maintains all records relating to property transfers, along with any notes related to the property. Every time a property or residence is transferred or sold; the information must be shared with the recorder of deeds. The same holds when a person gifts a property to another person or when they transfer it to a person in their will.
Property records are used for many purposes. The record may alert a potential buyer to an issue with the deed, such as a lien or encumbrance on the title. A person might also use property records to learn if there are any problems with property tax payments. PropertyScout can help individuals in need of property records.
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Why Might a Property Record Be Necessary?
Whenever a property is transferred or sold, the record needs to be updated immediately. If there is a problem with the real estate, the property records are the first thing professionals will consult to resolve any dispute.
They will turn to property records to resolve disputes over boundary lines or clarify a person’s rights regarding an easement. Outstanding lien disputes may be settled with the help of property records.
People often transfer property through a will. When there is a problem with a will, inheritance, or property share, property records may be used to clear up any confusion. Lenders might also turn to property records when there is a question about a mortgage or foreclosure on the property.
If there is a dispute regarding who has owned a property at any time, the property records are consulted. The matter is typically resolved with the help of a title search. This search provides information about the current and former owners of the property. It can then be determined who has the legal right to sell or transfer this property.
Unavailable Property Records
When property records go missing, problems can arise. A real estate transaction could be delayed or canceled when the property records cannot be found. An action of quiet title is an option in this situation. This is a lawsuit asking the court to intervene and determine ownership of a property. Once this step is taken, the odds of future lawsuits will be eliminated.
At times, authorities may turn to other legal documents to determine ownership of a property. Estate and tax documents are two resources that may be used when determining ownership.
Some individuals choose to hire an attorney to learn more about a property. The attorney checks the court systems to learn if there have been prior lawsuits involving the property. The attorney knows how to find this information and has the resources to do so.
If a person learns the deed to a property was not recorded, they need to reach out to an attorney immediately. In addition, they should contact the title insurance company and mortgage lender to get the title recorded. Owners are legally required to record property documents to protect themselves from liability and consequences.
What is a Property Deed?
A property deed is a legal document transferring ownership of a property from one party to another. Individuals may search public records to learn the name of a true property owner.
This deed provides information about the grantor and grantee of the property. Here, a person learns the date the property changed hands. Each state determines its requirements for property deeds, which come in many forms.
A general warranty deed allows the grantor to sell a property to another party. This deed is a promise that the prior owner is providing a clear title. If a person needs to defend their title against actions or omissions, however, a special warranty deed is needed. Buyers don’t receive as much protection with a special warranty deed as they do with a general warranty deed.
With a grant deed, the grantor is not required to defend title claims. These deeds come with a covenant that the grantor hasn’t sold the property in question to the grantee. They are giving this property to the grantee with no liens attached.
Quitclaim deeds, in contrast, come with no guarantee of a valid title. The only thing the grantor is transferring with a quitclaim deed is the type of ownership they currently have. There is no promise about the grantor’s extent of the interest on the property. The buyer takes on the risk that the grantor may not possess valid ownership.
What is a Lien?
Real property documents must contain information about any liens on a property. This information should include both voluntary and involuntary liens, as a buyer needs this information before completing a real estate transaction. In addition, real estate agents need this information to assess a property’s value correctly. They will not receive any money from the sale of a property until all liens have been satisfied.
What is a Plat?
A plat is a map of the property in question and outlines the boundaries of the parcel. The plat is used to determine the size and location of real property. This map also shows certain landscape features, such as lakes and ponds, found on the property. People turn to plats when there is any dispute over where a property begins and ends.
Every person needs a document that shows their legal rights to a property. These property records are recorded and maintained for future reference. The sale or transfer of property rights is more efficient when these records are available. Work with an attorney or other professional to ensure all records are available for review before buying or selling property, as this protects all parties involved in the process.
