Practicing law in Southwest Florida, especially in this day in age, I find myself routinely explaining the differences between a Promissory Note, Mortgage, and Deed. This week, I will briefly review each of these documents as well as their legal effect.
First, a Deed is the legal document that is used to transfer ownership of real property. In Florida, it must be written, signed, and witnessed by two individuals. Every Deed should be recorded in the public records in the county where the property is located. The recording of the Deed notifies the world that you are the owner of the property. An unrecorded deed is vulnerable to being lost or destroyed, being made invalid, or made subordinate to any future lien that may be placed against the property. Read the rest of this entry
Ever wonder what the fees on your HUD meant, let alone what they were? In this vocab lesson, see what it is you are really paying for. Read the rest of this entry
Some days we just need a good laugh!
Where is my “title”???
Just the other day, we received a call from an old client of ours that we did a closing on back in 2010. Her question to us was, “I have yet to receive the title to my home, and can you send me it?” Now hearing this, we asked if she had her owner’s policy and deed to her home. Her response was yes, but no title. We then went on to explain to her that a title to a home is not like a title to a car and that her owner’s policy was the “title” and warranty deed was the official transfer. After about an hour of re-explaining again and again, we think she finally got it! Read the rest of this entry