For anyone selling a home or transferring property, the process can quickly become complicated and overwhelming at times. With this, choosing to work with an experienced legal or real estate professional is essential to avoid any further confusion in the process. As you are starting the process of transferring or obtaining a property title, consider these important factors to keep in mind.
Your Property Title Proves Only Your Ownership of the Property
Unlike a deed that is used to transfer property from one party to another, a title only provides tangible proof of property ownership. As a form of legal documentation for your ownership of a property, your title should outline the details of the property. A title search may also be conducted in the process of buying a home and serves to prevent issues with ownership later on. For this reason, title insurance may be purchased to protect the new owner against any problems involving the title and the previous owner of the property.
Keep Ownership Documents in a Secure Place
Because the title of your property is such a crucial document, it is important to keep it in a secure place where it is safe. While you may have access to a copy of your title, it is important to maintain each of your property ownership documents together in a secure location where they cannot be moved, damaged, or misplaced.
Each Owner of a Property May Hold Copies of the Property Title
When it comes to who holds the property title, it is important to note that co-owners of a property may also hold individual copies of the property title. Mainly if the property is owned by multiple people, such as community property or company-owned property, the co-owners of the property may each hold legally valid duplicates of the title.
Title Searches Serve to Identify Potential Issues
A title search serves to identify any potential issues with the ownership of a property before a new owner obtains the title. This search is an essential step in the process of owning a new property, as it can prevent the new property owner from inheriting a potential issue involving property taxes or uncertainty surrounding past ownership claims.
Trust Jack Cooper Law for Your Legal and Real Estate Needs
If you are looking to sell your home in 2019, trust Jack Cooper Law for affordable, professional, and accurate legal and real estate assistance. Let our excellent team of experienced Maryland real estate attorneys provide you with expert counsel and information. In working with Jack Cooper Law, you will have access to our excellent industry contacts, from trusted and reliable lenders to home inspectors, contractors, and service providers throughout your selling process. No matter where you are located in Maryland, our team is ready to work with you! Call us at 410-465-5822!