CourthouseDirect.com is an established and reliable source for all manner of courthouse documents. This enables those who need such documents to secure and file them properly, reducing stressors such as time restrictions and hunting down the proper documents for a situation. There are several types of real property documents you can find on CourthouseDirect.com, so we have created a brief explanation of the real property documents you can obtain and why they are important.
Deeds
A deed is the legal document that includes a record of ownership transfers for a piece of real property. Deeds are essential documents for any real estate transaction, as the legal ownership of the property in question must be accurately determined before any sale or transfer of ownership may take place. Deeds also include any information a purchaser would wish to know about a piece of property before purchasing it, such as any encumbrances or similar concerns. The party in possession of a deed and transferring it is known as the “grantor” and the party receiving ownership is called a “grantee.”
Obviously, the grantee will want to know exactly what they are purchasing, and will want the deed to contain specific covenants of title, which are basically assurances that the grantor in fact legally owns the property, has the right to sell or transfer ownership, and all details of the property that could impact future ownership are disclosed.
Different states and other smaller jurisdictions may have differing requirements for the covenants of title a deed must include. Additionally, the requirements for selling or transferring the property listed on a deed vary by location. If there is any question at all about the legal status of a transaction, consult with a real estate or property law attorney to make sure you are protected and receiving a full and accurate assessment of the property that you are considering purchasing.
Property Tax Reports
Property taxes are typically a major area of concern for homebuyers. A property tax report will contain the record of all property taxes paid. This is typically important during the purchasing process and will let a potential buyers know what type of property taxes they should expect after purchasing the property.
Property tax reports are also important for detailing exactly how taxes are levied, assessed, and collected for a piece of property. Some states have a state-level property tax, while others allow county or municipality-level taxation. It’s important to have this information so you know exactly which bodies have jurisdiction over a piece of property before purchasing it.
Mortgage Records
The mortgage record for a piece of property contains the history of mortgage details from previous owners, and is public record. A mortgage report can also afford a potential homebuyer an added measure of confidence so they can bid appropriately on a foreclosed home, obtain more insight about current property owners, and discover how much the current owner borrowed to purchase the property. Additionally, mortgage records also list how often the property has been listed for sale and will help a prospective buyer discern an appropriate offer.
Mortgage records also show the transfer of the mortgage between lending companies. This information is crucial for prospective buyers, because it helps them determine the current actual value of a property and make a reasonable offer.
Property sales and other similar transactions are very complicated matters in even the most straightforward circumstances. CourthouseDirect.com exists to provide a quick and easy method for obtaining the necessary documentation in any type of property purchase. These are just a few of the types of real property documents you can find on Courthousedirect.com.
