Define: Title Of Record

A title of record refers to the official document that establishes ownership of a property or asset. It is typically issued by a government agency, such as a county recorder’s office, and contains information about the current owner, any liens or encumbrances on the property, and a legal description of the property.

To obtain a title of record, you will need to submit a request to the appropriate government agency, usually the county recorder’s office, where the property is located. The specific process may vary depending on your jurisdiction, but it typically involves completing an application, paying a fee, and providing relevant documentation, such as a deed or proof of purchase.

If there is a discrepancy or error in the title of record, it is important to address it promptly. You may need to consult with a real estate attorney or title company to help resolve the issue. Depending on the nature of the error, it may require filing a corrective document, such as a quitclaim deed, or initiating a legal action to clarify or correct the ownership rights.

Yes, a title of record can be transferred or sold. This typically involves executing a legally binding document, such as a deed, that transfers the ownership rights from the current owner to the new owner. It is important to follow the proper legal procedures and record the transfer with the appropriate government agency to ensure the new owner’s rights are protected.

A lien on a title of record refers to a legal claim or encumbrance on the property that serves as security for a debt or obligation. Common examples include mortgages, tax liens, or judgments. A lien can affect the ability to sell or transfer the property until the debt is satisfied or released.

To remove a lien from a title of record, you will generally need to satisfy the underlying debt or obligation. This may involve paying off a mortgage, resolving a tax dispute, or satisfying a judgment. Once the debt is cleared, the lienholder should provide a release or satisfaction document, which can then be recorded to remove the lien from the title.

Title insurance is a type of insurance that protects against financial loss due to defects in the title of a property. It provides coverage for issues such as undisclosed liens, errors in public records, or fraudulent claims to the property. Title insurance is important because it helps ensure that the buyer or lender has a clear and marketable title, providing peace of mind and financial protection.

Yes, a title of record can be challenged or disputed. Common reasons for challenging a title include fraud, forgery, or errors in the chain of ownership. If you believe there is a problem with the title, it is advisable to consult with a real estate attorney who can guide you through the legal process of challenging or disputing the title.

A quiet title action is a legal proceeding initiated to establish clear ownership of a property when there are competing claims or uncertainties regarding the title. It is typically used to resolve disputes or remove clouds on the title, such as unresolved liens or conflicting ownership claims. A quiet title action seeks a court judgment that confirms the rightful owner and eliminates any doubts or challenges to the title.

A title of record remains valid until it is legally transferred or conveyed to a new owner or until a court order invalidates it. It is important to keep the title updated and properly recorded to ensure its validity and protect your ownership rights.