#3 Title Liens and Why They Are Used
VIDEO POST #
To sell your house (real property) you should be able to provide a clear title to the new buyer. What exactly does having a clear title mean and what happens if you don’t have a clear title (sometimes called a cloudy title)? Can a buyer still purchase your home with a cloudy title? Do you need to use a title insurance company and are all title policies created equal?
A grant deed or a warranty deed are used in some states for the sale or transfer of real property from one person or entity to another person or entity. The document must be notarized and signed by both parties.
A quitclaim deed is a document used to transfer any title, claim or interests in a piece of property from one person or entity to another person or entity. It makes no assurance that the person or entity transferring the property has valid claim to it and, as such, is often used to transfer real estate between family members or into a trust.
A joint tenancy deed is the holding of an estate or property jointly between two or more parties. The share of each party passes to the other or others upon death.
Todd addresses the issue of property liens and how they work in this “Short Cut” to selling a home.
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