One such abbreviation, "W.A.T.A.," stands for "Who Acquired Title As." Taking title to a property means taking ownership. The W.A.T.A abbreviation is used on a deed when a person takes ownership under one name but is now known by another name.

What is after title?

After acquired title refers to a title held by a person who bought property from a seller who acquired title only after purporting to sell the property to the buyer. ... As soon as the seller actually acquires title, title passes to the person to whom it was sold.

Who records the title?

Title records are maintained by recorders of deeds, city or county clerks, county treasurers, collectors, and clerks of court, and include written documents, such as deeds and mortgages, and other records, such as tax, marriage, and probate records, and judgments, that may affect the title of a property.

Is title the same as ownership?

In short, title is a legal term that refers to ownership of something. For example, a job title means your have ownership over your role and specific set of responsibilities. You can also think of the word “entitle,” where you have ownership or control over something. In real estate, that something is property.

What does it mean to acquire good title?

Good title is a title that is legally valid or effective. It is a valid and a marketable title. ... Good title to the land means marketable title, that is, a title which a reasonably prudent person would buy free of encumbrances and free of restrictions and conditions.

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37 related questions found

What is Certificate title?

A certificate of title is an official state or municipal-issued document that identifies the owner(s) of personal or real property. A certificate of title provides documentary evidence of the right of ownership. ... The title thus embodies the right or evidence of the right of ownership of real property.

What is assurance title?

Title assurances assure a buyer that he will get marketable title. ... There are generally three defects that can make title unmarketable: Flaw in the seller's title. The existence of an encumbrances on the property not reasonably knowable to the buyer.

What is title in jurisprudence?

Title is the legal way of saying you own a right to something . ... Title can transfer person to person. I. Introduction. Lawful Owner-Entity that has an enforceable case or title to an advantage or property, and is perceived in that capacity by law.

What is it called when you own the house but not the land?

Real estate has long been the go-to investment for those looking to build long-term wealth for generations. ... Under a ground lease, tenants own their building, but not the land it's built on. Since this is a lesser-known type of leasing structure, here's a primer on ground leases for real estate investors.

How can someone steal your home title?

A thief steals your identity, then uses it forge a deed, making it look like they're the property owner. There are several ways home title theft can occur: ... If they target an empty home – like unoccupied vacation homes or rental properties – they can use forged deed to sell the home and profit without you knowing.

Who keeps the original deed?

The original deed is returned to the owner of the property from the office of the recorder after proper entry. The office of the Recorder of Deeds maintains a set of indexes about each deed recorded, for an easy search. Almost all states have a grantor-grantee index including a reference to all documents recorded.

What is the record title holder?

Related to Record titleholder. Record shareholder means the person in whose name shares are registered in the records of a corporation or the beneficial owner of shares to the extent of the rights granted by a nominee certificate on file with a corporation.

Who keeps the original deed of trust?

* Deed of trust. This is the mortgage document. As you stated in your question, it is recorded among the land records, and your lender keeps the original. When you pay off the loan, the lender will return the deed of trust with the promissory note.

What is the doctrine of after acquired title?

“After-acquired Title” is a legal doctrine recognized in many jurisdictions which provides that, when a grantor purports to convey or mortgage property to which he is not vested, any title subsequently obtained by that grantor automatically passes to his grantee by operation of law.

What is a title company buyer?

When you buy a home, one of the players you'll deal with in the process is the title company. The role of a title company is to verify that the title to the real estate is legitimately given to the home buyer. Essentially, they make sure that a seller has the rights to sell the property to a buyer.

What is a closing agent?

For a real estate transaction, closing agents are professionals who function chiefly for the buyer by conveying the selling interest from the buyer to the seller and ensuring the orderly transfer of the legal title from the seller to the buyer through the closing process.

Can land owner and building owner be different?

no sir it is same owner ship it is not different. ... husband wife are not treated as different . if third party sale it then they have to take the owner written permission.

What is an original title?

An original title is a title that creates a right for the first time. It is right by which a person attains property in a thing which at the time of its acquisition is not in the ownership of any other person. For example, the catching of a fish is an original title of ownership.

What is title of ownership?

Title refers to a document that lists the legal owner of a piece of property. Titles can be issued to depict ownership of both personal and real property. The different types of real estate title are joint tenancy, tenancy in common, tenants by entirety, sole ownership, and community property.

What is title of a person?

Someone's title is a word such as 'Mr,' 'Mrs,' or 'Doctor,' that is used before their own name in order to show their status or profession. ... Someone's title is a name that describes their job or status in an organization.

What is an abstract of the title?

An abstract of Title is is the brief chronological overview of all of the historical legal documentation associated with a property or asset, including titles, transfers and claims against the property.

What are the three general methods of title Assurance?

There are three general ways to gain assurance of good and marketable title.

• Warranties on the deed.
• Title search (abstract) and legal opinion.
• Title insurance.

What is title Assurance in real estate?

Title insurance protects real estate owners and lenders against any property loss or damage they might experience because of liens, encumbrances or defects in the title to the property.

What is certificate of ownership?

Certificate of ownership means a paper or an electronic record that is issued in another state or a foreign jurisdiction and that indicates ownership of a vehicle.

What is TCT land title?

In short, you want to buy a land with a clean title. ... By way of a background, the Owner's Duplicate Certificate is either an Original Certificate of Title (OCT), if it is the first title issued on the land, or a Transfer Certificate of Title (TCT), if it was issued subsequent to the first title.