If you’ve ever sold a home, you know that the process involves tons of paperwork, some of which is complicated. The most important part of this paperwork is your house deed. A house deed is your proof of ownership to the home. It’s much like the title is to a car. If this deed isn’t protected, you don’t have a valid record of ownership and there could be problems.
House deeds are legal documents that can often be confusing. With a little help, you will be able to understand the process associated with a deed with ease.
What Does a House Deed Consist of?
Think about a lease you’ve signed when you rented an apartment. This lease is an agreement you enter into that says you will live in that residence. This is valid unless you violate the terms. Deeds, on the other hand, cannot be violated. You own that property and can’t be kicked out.
The house deed will include several items; one of which is the property’s description. This deed holds up in court because it is a legal binding agreement. Once you give a buyer the deed that has been signed, you agree that you’ve given them the home.
Selling a Home without a Deed
Would you purchase a vehicle without the proper paperwork? There would be no guarantee for you that the car wasn’t stolen, so you would need to decline the offer. In addition, lenders aren’t going to offer money to make an expensive purchase if the paper trail doesn’t line up.
There are only a few, rare circumstances that will allow for a home to sell without a deed. Without the original deed, there is no proof that home is your possession. Because of this, lenders will not give you a loan.
When You Don’t Have the House Deed
If you find yourself without the deed, you could start by contacting your lender. They made a copy when you entered into an agreement with them. If you are selling your home, they may be able to give you a copy as well.
You might also head to your local courthouse. The deeds are filed there and for a small fee, you should be able to get a certified copy or photocopy. You’ll also need to take proper identification to show you are the owner listed on the deed.
Inherited Home Concerns
When you inherit a home, there are several possible things that could occur with the house deed. First, you might have been given a quitclaim deed before the owner passed away. This is an informal agreement that gives you ownership of the home in good faith. This is normally between relatives.
When a property doesn’t have the quitclaim deed, you’ll need to be granted a new deed listing you as the owner of the property. If there is a surviving owner still on the deed, you’ll also need to get their permission considering they still own the home.
When the property is left to you through a will, you’ll get an executor’s deed from the court. This will only happen if the will is clear in its intent and everyone is in agreement. When there is no will, the court needs to determine if you are the owner of the home. When this occurs, they will draw up a new deed for you.
Once you’ve acquired the deed, you are ready to sell the property as normal.
Names on the Deed
When you are doing anything related to the deed, anyone whose name is listed on the deed needs to be present. This means that in the event of a divorce, the former spouse needs to agree on the sale if they are still listed on the deed. No one on the deed is able to take action on their own.
If you need to remove someone’s name, they still need to give consent. While the process to do this varies by state, you’ll always need to have a certified copy of your deed. For the easiest way to handle this, you might consider a quitclaim deed which will forfeit their part of ownership.
Completing the Process
Transferring the house deed when you sell your home will often require a real estate lawyer. The old house deed is presented and then the new deed can be created. The notary needs to be present as well as several witnesses. Once these documents are completed, they will be sent away to be filed. This entire process could last several weeks.
Once the documents are processed, the new owner gets a deed to show they’ve purchased the property from you.
Your Next Steps
If all of this seems too confusing for you, we are here to help! We believe in working hard for our community and we have the skills needed to take care of these matters quickly. When you sell your home to Integrity Homebuyers for cash, all of the hassle is left up to us.
Whether you are dealing with divorce, an inherited home or you simply need money quickly; we will handle the sale of your home with speed, honesty and integrity – because that’s who we are!
Start the process today and you could be free of this burden shortly.
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