The general public may not know exactly how real estate is sold in the United States.
When you sell a car, you have a piece of paper called a Title, which is a document of ownership that is registered with the state that gets signed over to the buyer.
In the sale of real estate, there is no one Title document that gets passed to the buyer.
The closing attorney prepares a new Limited Warranty Deed for the sale, which is signed by the seller. The Limited Warranty Deed states that the seller has full ownership of the property and the authority to transfer it to the buyer.
That deed is then recorded in the deed records at the courthouse in the county where the property is located. Each time there is a sale of the property, a new deed is recorded for its transfer and sale.
John C. Bennett is a real estate closing attorney and owner of Origin Title and Escrow, Inc.. Since 2003, Origin Title has handled real estate transactions – purchases, refinances, reverse mortgages – quickly and professionally. There will be no surprises, nothing misunderstood. Title searches are thorough and well-reasoned, to avoid unpleasant surprises later down the road. Calculate your closing costs in Georgia or Florida using our calculator or contact Origin Title using this form.