Title Archives - Deeds.com

March 18, 2024April 25, 2024

Real Property Basics: What Is a Clear Title?

A clear title. The term is commonly used to mean the deed holder can prove ownership, unquestionably. To verify that, a title company can conduct a title search.

Other parties’ claims on the title are called title defects, or clouds on title.

What do these claims look like? They might be mortgage liens, court judgments, contracts with renters, solar contracts, or any agreements to allow access to part of the property. There could be unpaid taxes in the past, claims by relatives involving their rights in foreclosures or inheritances, even liens for fees and fines imposed by homeowners’ associations.

Having a clear title matters to a homeowner. Selling isn’t an option while there are liens or claims against the title. Straightforward enough… But there are some finer points worth knowing.

February 7, 2024April 25, 2024

Behind the Scenes of a Home Purchase: What’s Your Title Company Doing?

You joyfully pick up the keys on closing day, and leave the office triumphant, a thick folder from the title company under your arm.

The title company played a starring role in your day. At least it did if a mortgage is involved! Cash buyers need not hire experts to run a search on the home title, because there’s no lender to protect. But even where buyers pay cash, most people don’t have the time to handle their own title searches.

Thus, most purchases typically involve title companies. A title company provides security and confidence. No new homeowner wants to worry about potential issues or discrepancies in the property’s ownership history.

December 20, 2023April 25, 2024

How Philadelphia’s Funeral Homes Aid in Resolving Tangled Titles to Preserve a Billion Dollars in Real Estate Wealth

Once upon a time, Katherine Gilmore Richardson undertook the crucial task of reclaiming the title to her family home in Wynnefield, West Philly, where she grew up. She got the title back to her family home. She grew up in that corner home in Wynnefield, West Philly. So she wanted to recover its title with the goal of keeping the home in her family for future generations.

After recovering her own deed, Katherine Gilmore Richardson has led Philadelphia to embrace policies that do the same for other families — with the help of some allies in the local funeral sector.

Why would the matter of death come into this picture? Well, dying without a will can cause trouble for a home’s title. It certainly did in this case.

September 18, 2023April 25, 2024

Dower Rights for Surviving Spouses: Does Your State Still Have This Old English Relic?

If you live in Michigan, your state ended its dower rights in 2017. But if you live in Arkansas, Kentucky, or Ohio, dower is still on the books in your state. This musty old legal provision gives spouses a peculiar set of real estate protections. Kansas, too, has a “dower-like” provision in its KSA 59-505.

If you or your loved ones live in a dower rights state, what’s different about your home’s title?

Let’s take a look.

January 2, 2023April 25, 2024

A Couple Breaks Up. What Are The Deed Options?

They bought a home together. Now they’re parting ways. They could do a number of things with the deed to the home, depending on their situation.

Here, we walk through the most common options for separating co-owners.

July 4, 2022April 25, 2024

I’m Changing My Name. What About the House Title?

Your house title should state your current legal name. Of course, there are other documents that prove your identity. But having the correct name on the title will save steps when you want to sell or take a loan out on your home.

So here’s a brief guide to changing the title to your home after changing your name.

May 23, 2022April 25, 2024

Can Home Renovations Affect My Real Estate Title?

Avoiding Surprises With Home Construction

Renovating a home can indeed have an impact on the title. Or maybe two impacts. These concern liens and permits.

Whether you are buying a renovated home or plan to remodel the house yourself, be mindful of liens. Contractors place liens on homes for unpaid bills. Liens are clouds on a home’s title, and they usually have to be cleared before the owner can sell. And if you ever want to refinance, you’ll have to resolve the lien(s) to clear up the title.

There is also the matter of whether the work was carried out under the correct permit process, in compliance with the building code. If not, title insurance coverage can get complicated. So can the process of rectifying any mistakes the previous owner might have made.

These two issues can have further impacts. For example, does title insurance protect a new owner for problems related to poor renovations? How will unpermitted work in the house impact the homeowner who goes to sell?

Here, we take a look at these various connections between renovations and the house title.

July 23, 2021April 25, 2024

The Whole Enchilada? Know What’s in Your “Bundle of Rights” When You Buy a Home

The privileges you get as a homeowner are, in a famous legal metaphor, your bundle of rights. Why the metaphor makers didn’t choose an enchilada is anyone’s guess. It certainly would have spiced up law school courses.

In any case, what’s in a real estate deed matters. If your bundle is missing a few sticks, so to speak, you might not get to use your property as planned. You could need to negotiate or compromise with another party. You might learn that someone else has a conflicting interest and possibly always will.

Ideally, the buyer of a home with a clear title receives complete ownership and the prerogative to use it as desired. In reality, things get complicated. Here are six of the most significant rights you can have:

July 12, 2021April 25, 2024

Not Entitled? Owners of “Heirship Properties” Locked Out of Disaster Relief

An older and younger person laying on the floor in a living room coloring or doing school work together.

July 2021 — Elsa was the earliest “E” storm we’ve ever experienced, and Colorado State University now has raised its 2021 Atlantic hurricane season prediction. We should now expect 20 named storms, says CSU. This, after the unprecedented 2020 hurricane season.

Disaster relief funds will be vital this year. And this brings up multiple problems for people in the hurricanes’ paths with no clear title to their homes.

July 6, 2021April 25, 2024

Issue Spotting: Buying a Home With an Unmarried Partner

Thinking of buying a house with your partner? Many unmarried couples decide to live together, often co-owning their homes. Here are some questions to consider if you’re thinking of making a similar commitment.

Will One Partner Take Out the Mortgage? Or Will You Be Co-Borrowers?

Two people sitting in a house with moving boxes behind them,

When unmarried couples apply for a mortgage, the partner with stronger credit may opt to be the sole buyer. This can lead to the best possible loan terms and rates.

Alternatively, the couple can apply for a mortgage in both names and pay it off from a joint bank account. Buying a home together, as co-borrowers, may seem to strengthen the couple’s borrowing power. Yet it can do the opposite. A lender will look at the lower of the two credit scores to make approval decisions.

Moreover, co-borrowers need to refinance the loan if they later stop co-owning and put the title into only one of their names. Handling a home loan jointly can complicate the couple’s future if the relationship changes.

☛ Before applying for your mortgage, get the facts on credit scores — and how to boost yours.