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The risk of loss is then transferred to the buyer – if a house on the property burns down after the contract has been signed, but before the deed is conveyed, the buyer will nevertheless have to pay the agreed-upon purchase price for the land unless the seller in possession or deemed in possession has failed to protect it. Such issues can and ...
The names of these offices are usually the "Recorder of Deeds" or something similar. State statutes also prescribe the following elements: What instruments are entitled to be recorded, usually deeds, mortgages (whether or not in the form of deeds of trust), leases (usually longer term varieties), easements, and court orders. There is generally ...
Rectification is a remedy whereby a court orders a change in a written document to reflect what it ought to have said in the first place. It is an equitable remedy , [ 1 ] and so the circumstances on which it can be applied are limited.
Portrait of Frederick Douglass in the D.C. Recorder of Deeds Building. Frederick Douglass was the first recorder of deeds for the District of Columbia.. Recorder of deeds or deeds registry is a government office tasked with maintaining public records and documents, especially records relating to real estate ownership that provide persons other than the owner of a property with real rights over ...
This assures grantee there are no legal claims to the property by third parties, and no taxes are owed on the property that would restrict its sale. Some jurisdictions use the warranty deed to transfer real property instead of the grant deed. The warranty deed adds the additional guarantee that the grantor will defend the title against any ...
In 2015, Texas law was changed to automatically place the legal title to the property with the buyer by filing the contract with the deed records office of the county where the property is located. While the seller loses title, the seller retains a vendor's lien in the property for the outstanding balance of the contract. [3]