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Examples are those getting the property as a gift and heirs. Also, those who purchase ownership interests in the owners of the property, such as shares of stock in a corporation owning the land, have not purchased an interest in the property itself and so are unprotected. Also, recording laws generally do not protect purchasers against real ...
A sale agreement on real estate is legally binding even without registration in the land register, the only requirement being certification of the agreement by a notary. Registration is required, however, in order for the new owner to sell or otherwise transfer the property, or enter a mortgage.
Some states require the deed to be notarized or acknowledged before a notary. [4] Some states permit a jurat, also known as a verification upon oath or affirmation, in which the affiant swears to the truth of the contents of the document, and signs the document in front of the notary. [13]
The lessor can do the title transfer paperwork on your behalf, but it may charge you a processing fee. The lease buyout title transfer process is similar to a private- or third-party vehicle purchase.
With a clear title, there’s no doubt who the owner of the property is, or who can claim legal ownership of the property. To get a mortgage, lenders require a thorough title search of local ...
A title search ensures that there are no hidden claims on the property that could impact the ownership rights of the buyer. The search is typically performed by a title company or attorney and can ...