Table of Contents
What is title and its types?
The definition of a title refers to three components: ownership, occupation or possession, and the right of possession. Although there are various types of titles, there are two types that are most widely obtained: titles to personal property and titles to real property.
What’s the difference between a deed and an abstract?
The physical item denoting a change of title is the deed. The abstract of title, on the other hand, is a document that summarizes the history of a specific parcel of property, from the transitions of title to legal activity.
Are title deeds legally binding?
Covenants may also be used to protect access required through a property, or may even detail how a property is maintained in order to preserve the character of the neighbourhood. Whatever the detail, a covenant is legally binding and you could face severe penalties if you breach it.
Do I need original title deeds to sell my property?
In short, yes you can sell your house without the deeds, however you must be able to prove through other means that you are the owner of the property. As the deeds are the assortment of documents which usually prove ownership, proving it without them can be a more protracted process, but it is by no means impossible.
Who normally holds the deeds to a house?
The title deeds to a property with a mortgage are usually kept by the mortgage lender. They will only be given to you once the mortgage has been paid in full. But, you can request copies of the deeds at any time. Do you need your title deeds?
Can title deeds be changed?
Can I change the title deed? The owner may want to change the title deed if they wish to sell their rights to the property. For example, a co-owner of a property no longer wants to be listed as an owner in the title deed. A lawyer will be needed to change the deed, and a fee will be charged for this service.
Can I be forced to sell a jointly owned house?
In cases of joint ownership or tenancy, neither can remove the other unless an exclusion order is obtained from the court. If one spouse or civil partner wishes to sell the family home and the other does not, then an application will need to be made to court.
Can someone buy your house without you knowing?
If they target an empty home – like unoccupied vacation homes or rental properties – they can use forged deed to sell the home and profit without you knowing.