Protecting Property Title Interests
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The importance of recording real estate transfer documents.
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Protecting Property Title Interests
- 1. In Real Estate, You Have to Show Up 100% of the Time ProvenResource.com
- 2. ProvenResource.com How not to lose $1,729,631:
- 3. ProvenResource.com Over the last two months, several clients (prior to hiring me) lost a combined total of $1,729,631 because they failed to file their real estate documents publicly with the county recorder.
- 4. ProvenResource.com Recording real estate transfer documents protect against situations where the same property interest is transferred multiple times (i.e. seller grants a mortgage for the same property to two different lenders).
- 5. ProvenResource.com State laws predominantly favor those who properly record their property interests over those who don’t.
- 6. ProvenResource.com Recording real estate documents into a property’s “chain of title” provides “constructive notice” of one’s property interest. By not appearing in the title chain, interested parties will not receive legal notices concerning the property, such as tax notices or lien filings.
- 7. ProvenResource.com Generally, all real estate deeds need to be filed and it is important that the buyer have a Memorandum of Land Contract recorded.
- 8. ProvenResource.com Most title or closing agents will file real estate transfer documents as part of their business for a small fee.
- 9. ProvenResource.com “Remember, in order to protect your property interests against title claims or loss, it’s important that your real estate documents show up in the public records 100% of the time.”
- 10. Since 1990, attorney David Soble has represented lenders, loan servicers, consumers and business owners in real estate, finance and compliance matters. For over 25 years, he has been involved in thousands of real estate transactions and has successfully negotiated and saved millions for his business and consumer clients. ABOUT THE AUTHOR ProvenResource.com 31800 Northwestern Hwy. Suite 350 Farmington Hills, MI 48334 Phone: (888) 789-1715 Disclaimer: You should not rely or act upon the contents of this article without seeking advice from your own, qualified attorney.