Do I Need a Deed When I Sell My House?June, 13 2018
You’re ready to sell your home, but there’s one alarming problem: you can’t seem to find your deed.
You may have packed it away, you may have misplaced it, or it could have gotten destroyed in a disaster such as a fire or a flood. But, don’t worry–that single physical copy of your deed is not the only thing proving your ownership of your property.
While you should always keep your deed somewhere safe, we understand that accidents happen. Read on to learn more about how you can sell your home without a physical deed, and how title companies can help with the process.
Why Do You Need a Deed?
With all of the extensive legal files on record, you may be wondering why the deed is so important when selling a home.
Deeds provide the explanation of legal ownership in writing, with complete names and explicit, legal descriptions of the property. It is the all-around document that explains ownership, plain and simple. Only the legal owner of a property is able to conduct a sale.
What if I Can’t Find My Deed?
It’s possible to purchase a new copy from the courthouse, if you aren’t selling your home and you’re interested in possessing a physical copy. However, your title insurance company is able to handle all issues regarding your deed, especially if you have misplaced it.
Title work on house sales is very thorough and will ensure that you will be provided with a copy of the old deed, while producing a new deed. These processes are all included in the flat-rate fee you paid when you purchased your property.
What is Title Work on a Home Sale?
Title work is the very thorough process that includes finding any discrepancies with the property’s legal documents.
In most cases, the seller will purchase owner’s title insurance, which reviews the property’s history. Title work will be able to produce misplaced deeds, new deeds, inconsistencies with mortgages and taxes, and more.
With the right title company, you can ensure that there are no further legal issues with your property. You would be surprised at just how many issues could arise! Then, the buyer will likely purchase lender’s title insurance. This is to protect the lender, usually a bank, when providing a loan. When the lender loans money with the property as collateral, lender’s title insurance protects them from any sudden changes or legal fees.
Armour Title Can Assist With Deed-Related Problems.
Do you need title work done on your home? Perhaps you’ve misplaced your physical deed copy, and need to invest in a new one. Luckily, title insurance companies are more than willing to deal with all of these problems for you.
If you’re searching for the perfect title insurance policy, be it owner’s title insurance or lender’s title insurance, Armour Title Company should be the first stop on your list. We can find you the best policy for your situation, and get you started on selling your home in no time at all!
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