What’s the difference between a House Deed vs. Title

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When buying or selling a home, having an understanding of the difference between title and deed is an essential part of the buying or selling process. When buying or selling a home, both the deed and the title transfer are required to transfer homeownership but are not exactly the same. Each requires different steps to be taken by the buyer and seller during the transaction.

What is a title for a house?

The property title is the proof of ownership for the property you own. This title deed is what certifies the property is actually in your name, and you’re the legal owner of the land or property in question. When you hold the title on a property, you do not have a document but rather the property itself. Those who want to certify whether the specific property belongs to you or someone else will be able to perform a house title search to certify the ownership of the property in question.

What is a deed to a house?

A home deed is a document that certifies the transfer of the property into your name. The previous owner signs the deed to your name to give the house to you after purchase.

A deed is similar to a title but has some key differences. First, it’s an actual document signed during the transaction. Next, it not only must be signed by the seller to transfer property, but it’ll also has to be filed with the appropriate government office in your county. Because the deed is a physical document, it can be easily used to prove you are the owner of your land or property title.

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Which is more important title or deed?

The title and deed have subtle differences, but they are equally important and crucial parts of homeownership.

In terms of the transaction process, the deed’s purpose is clear. It’s a document clearly stating the transfer of a property to yourself. Therefore, it can be used as a confirmation of ownership. However, on its own, it’s simply not enough. The title to a home is the actual proof of ownership, and through a title search, potential buyers and sellers will be able to find out a lot more than simply who owns a home. The title search will also note any liens, loans, and property taxes currently due for the property in question.

So, when comparing deed vs. title, you should consider the function of each. The deeds definition requires it to be a physical document covering the extent of ownership of a property. At the same time, the house title isn’t a physical document, and yet, it shows proof of ownership of a property.

Who holds the title to my house?

Who holds your house title will depend on whether you have a mortgage or not. When your property still has a mortgage, the lender has the right to the property title. Once the mortgage has been paid off, the lending bank transfers the title to the owner. If you purchase your home without a mortgage, then your home title will be recorded by the real estate attorney or title company present when signing the home deed. They will record the deed and supply you with a copy of the agreement. From that moment on, you should be the one to hold the title to your home, and in case of a title search on the property, it’ll be your name appearing on any documents.

Who holds the deed to my house?

Much like with the home title, the deed to your house will be held by the lender issuing you the mortgage to purchase the property. If a lender was not required as part of the transaction and you bought your home with cash, the deed will be recorded by the real estate attorney or title company. Once all of the documents, including the deed, have been signed, a copy will be sent to you, certifying you own your home. A copy of the deed will often need to be supplied to the county office where you live, so they may also hold a copy of the deed to your home for filing purposes.

What does a house title look like?

The house title isn’t a physical object or document, and by definition, it has no specific appearance. The title is simply the concept of home ownership. The deed, on the other hand, is a physical, legal document certifying the transfer of the property to you.

How to sign a title over?

The seller will need to identify what type of property deed is most appropriate for their property sale to sign a title. There are a few different property deeds to consider:

• General warranty deed:

This type of deed fully protects the buyer from any actions taken by the previous owners. This helps maintain the quality of the title for the property, which is why it’s most commonly used for real estate transactions. This is a complete binding document, so before you purchase a home with this type of deed you should know the full ownership history for the property, as you may be liable for any problems that arise.

• Special warranty deed:

This is similar to the general warranty deed, but in contrast, it protects the property title regarding defects that occurred during your time as the property owner. This is commonly used when you’re uncertain about the property history to protect yourself from liability claims.

• Quitclaim deed

This binding agreement is mainly used when you’re transferring the property to a close friend, family, or spouse. This deed offers the lowest level of buyer protection.

Once you have decided on the deed to use, you can hire a real estate attorney. The attorney can draft your property deed transfer, which you can then review and sign. Once the deed has been signed in front of a notary public and certified, you may need to file it with your local county to finalize the transfer.

How to do a title search on the property?

Everyone can do a title search on the property through their local county clerk’s office. This is a process you can conduct on your own, even though many experts advise against making the house title search on your own.

How do I get a copy of my house title?

The house title isn’t a physical document. What you’ll need is the property deed to certify your ownership of a house. If you no longer have the deed to your home, you can request an additional copy of the deed from certain public offices. Usually, these public records are held at the Office of Assessor-Recorder’s office or the County Clerks’ office. This is something you’ll need to check with your local county to determine where you can find these documents for yourself.

How long does a title search take?

The length of a title search varies. Depending on your county, the title search could take as little as a few hours. However, in most counties and cases, you should expect the property title search to take two around weeks. You should also note that older properties tend to need longer to complete the title search.

If my name is on the deed, do I own the property?

The deed is what certifies legal ownership of a property. If your name is the one noted on the property deed, this means you’re the legal owner of the land or property. If your name is on the mortgage but not the deed, you are still the owner of the home but not the one responsible for making the home payments,

When do you get the deed to your house?

The deed to your house is the document proving you have legal ownership of the property. As such, it’ll be released to you during the house sale. However, there is a caveat. If you have bought your home with a mortgage, then it’ll be the lender who will hold the title deed until your loan is repaid. Once you have finished making all the payments on your property, you’ll have the deed released to your name by the lender.

How to change the name on property title deeds?

In general, the deed is a legal document. As such, you aren’t able to simply change an essential part of the document. This means that the already existing deed cannot be altered. Instead, you’ll need to generate a new deed. Depending on your county, you may need to:

• Hire a real estate lawyer to complete the deed transfer
• Have the new deed notarized and filed at your local county office
• If you’re changing the deed to reflect your new name, you may legally have to transfer the deed to a third party before making the transfer to yourself under your new name

What is involved in a property title search?

The property title search is an extensive process that examines all available public records to ensure that the legal and rightful owner is the person trying to sell or buy the property. Apart from certifying the legal owner of the property, the house title search will also show any claims and liens on the property. If you’re looking to purchase a property, these could affect the sale, which is why it’s essential to know them beforehand. The property title search is something you may be able to carry out on your own through the county clerk’s office. However, there are also occurrences where a professional may be required for this process.

Summary

The deed and the house title are similar in theory but completely different in practice. The property deed is a legal, physical document that notes a property owner. The house title isn’t a physical document, even though it shows the legal ownership. Therefore, anyone can carry out a house title search to find who the legal owner of a property is and find any claims and liens of the property in question.