This is because title insurance shows that you are the sole and rightful owner of the property, and there are no outstanding claims to the deed.īecause a deed transfers ownership of a property to the buyer, a contract that schedules that transfer upon having met contingencies is required in order for a buyer to obtain title insurance. A title to ownership of the property is necessary, especially when a loan has been obtained to purchase the property. A title, on the other hand, is a person’s legal position regarding the home. Whoever’s name is on the deed is the legal owner of the property. What is the difference between a deed and a title?Ī deed is the physical legal document stating ownership of the house. When you buy a home, you obviously want to make sure that all things are in order, and that the transfer of the deed will go smoothly. It is not only a lengthy process that involves much back and forth in a highly competitive market, but it is also, for many, the biggest investment they will make in their lives. Problems with Property Titles Advising Clients with Property Title Issues in Monmouth and Ocean County NJ Read on to learn how the transfer of title can run up against roadblocks, and what you can do to resolve issues and move into your home, ready to begin your future.īuying a house is a huge decision.
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