Real Estate Word of the Day: Certificate of Title
A Certificate of Title is an official document that serves as proof of ownership for a property. It details the legal owner's name, describes the property, and lists any encumbrances or liens against it. Think of it as the property's identification card, establishing who holds the rights to the property and any legal interests or restrictions that might affect it.
The Certificate of Title is the ultimate proof that you are the legal owner of the property. Without it, establishing ownership can become a complex and contentious issue. This document provides a clear history of the property's ownership. It includes details of previous owners and any transfers of ownership, ensuring transparency and helping to avoid disputes over rightful ownership. The Certificate of Title also lists any encumbrances, such as mortgages, easements, or other claims against the property. Knowing about these in advance is crucial as they can affect the property's value and your ability to sell it in the future. Holding a Certificate of Title protects your legal rights. If there are any disputes or claims against your property, this document can serve as vital evidence in court, safeguarding your investment.
Looking to buy or sell your home on Staten Island? For all your real estate needs, look no further than Tom Crimmins Realty! Give us a call at (718) 370-3200, and we can provide you with professionally-trained agents who are flexible to all that you’re looking for!
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