Foote Title Group – Deed, what does it mean?
The deed the document that the seller signs that has the buyer’s name and the legal description of the property listed on it. The deed is the legal document that actually transfers the property from the seller/owner of that property to you the buyer.
Every person that may have an ownership interest in that property must sign the deed in order for the property to be properly transferred. Also everyone who is going to have an ownership interest in that property has to be listed as the Grantees/buyers on that deed.
The deed must include the legal description of the property, not the property address, but the legal description of that property. This is how it’s defined in the land records, where it’s located the subdivision plat, the lot and block number of where it’s actually listed in the land records. So that legal description is the actual description of that property that is used to transfer the title and to secure any loans against it.
The completed deed is then recorded in the land records. Once the deed is recorded it is actually public record so anyone who wants to know who owns that property can do a search of that property in the land records in the county and state that property is located in.
Someone searching the records can also tell quite a few things about that property. It can be determined if you have any mortgage secured by the property, what the property taxes are an if they’ve been paid and much more, it’s all public record. But
The deed is the only thing that can transfer ownership to a piece of property. There is another term with respect to homeownership and its called a title to property, but that is not your deed. Unlike a title to a vehicle which is what shows your ownership to that vehicle, the title of a property is actually the history of that property. The deed is the document that transfers the ownership from the seller to the purchaser.