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If a property doesn’t have a clear title, it’ll be a lot harder to sell or buy the home, or get a mortgage or homeowners insurance for it. In some cases, you could be responsible for paying a ...
The title of a property refers to the legal rights the owner holds to the property. When purchasing a home, it’s crucial to ensure the property has a clear title and is free from liens or other ...
At common law, equitable title is the right to obtain full ownership of property, where another maintains legal title to the property. In the United States, legal titles are those that were recognized by the law courts in England.
When you sell your home, the reconveyance deed is evidence that the property has a clear title, meaning it’s free from any outstanding mortgages or other liens or claims. Without the ...
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.
The record title system differs significantly from land registration systems, such as the Torrens system, that have been adopted in a few states. The principal difference is that the recording system does not determine who owns the title or interest involved, which is ultimately established through litigation in the courts.
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