The home buying process can be full of confusing terminology, and nowhere is that more true than when discussing titles and deeds for the home.
While you may understand what a title is, it may be less clear what the differences are between a title and a deed for a home. To understand these elements of your new home purchase, you first need to understand what a title is and isn’t.
Check out this quick guide to learn more about the difference between a house deed vs title.
What is a House Deed?
A house deed is a legal document that proves ownership of a home. It is recorded with the county recorder and includes the names of the buyers and sellers, as well as a property legal description. The deed is signed by both parties and notarized.
It serves as legal proof of ownership. If someone tries to claim your house as their own, you can show the deed to the authorities and they will confirm that you are the rightful owner. Without a deed, you could lose your home to someone who has no right to it.
What is a House Title?
A house title is an official document that proves a person owns a home. It includes the name of the owner, a description of the property, and sometimes a land survey. The title is usually kept with the mortgage company or lender. When the house is sold, the title is transferred to the new owner.
A house title is a legal document that proves you are the owner of a property. It is important to have a house title because it gives you the right to use, occupy, and sell the property.
How Does House Deed Vs Title Differ?
The two terms are often used interchangeably, but there is a difference between a house deed and a title. A deed is a legal document that conveys ownership of real property, while a title is a document that proves ownership.
A deed must be signed by the seller and the buyer and should be registered with the land registry office in your localit. A title, on the other hand, is a document that is issued by a government agency or a lending institution and proves that the owner has the right to possess the property.
Which Goes First When Buying a House
There is a common misconception that the house deed always goes first when buying a house. However, this is not always the case. In some situations, the house title may go first.
For example, if the buyer is using a mortgage to purchase the property, the bank may require that the title goes first to protect their investment. It is important to speak with an experienced real estate agent from this page to determine which document should go first in your specific situation.
On the other hand, if you’re buying the property from a private seller, you’ll need to get a house deed first. This is because the deed is the only way to transfer ownership of the property.
Know the Difference Between a House Deed vs Title
It is important to understand how a house deed vs title differs when you are buying a home. A deed is a legal document that transfers ownership of the property from the seller to the buyer. The title is a document that proves you have ownership of the property. If there are any problems with the title, you may not be able to sell the property.
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