What You Need to Know About Closings
In a real estate transaction, a closing is when all of the final documents that detail the agreements that the buyer makes with both the seller and the lender are signed for the purchase of a piece of real estate. During a closing, the buyer pays the seller the purchase price for the piece of real estate with either a down payment and loan proceeds or the buyer’s own funds. For this, the buyer receives a deed to the property from the seller transferring the title to the property to the buyer. If the buyer took out a loan to purchase the property, the loan that the buyer takes out on the piece of..
A title to a piece of real estate gives the title holder ownership rights in the piece of property including the right to possess and use the property as the owner sees fit within the bounds of the law. Real estate differs from other types of property in which one may have ownership because others may have the legal right to use the piece of real estate in which one has ownership. For example, when someone sells you his or her car, that person transfers the title of the car over to you; so long as the person transferring the title to you is the person who is the previous title holder, no one else other than you has the right to use the car unless you give him or her permission to do so. This is not true..
In most counties, anyone can perform a title search using the county's Property Appraiser's website and online Official Records. Using the Property Appraiser's website, enter in the property address of the property you want searched. Here, you will be able to see the current owners of the property. Next, find your county's Official Records search and type in the names of the owners. You will receive all of the related documents for those owners such as deeds, mortgages, liens, judgments, etc. You would want to review the deed and see who the owners were prior to the current owners and do the same search on their names. You would continue doing this back through the chain of..
Warranty Deeds in Florida
What is a Warranty Deed?..