A property deed is a legal document that transfers ownership of real estate from one person to another. A deed must have the buyer and seller’s names, the description of the property, and the signature of whoever is transferring it. A mortgage deed is a legally binding agreement that allows the lender to put a lien on the property until the loan is paid.
Frequently Asked Questions
Does a deed mean you own the house?
Yes. A deed states a person’s legal ownership of a property. A mortgage deed protects the lender and ensure the debt is reimbursed in full
Who keeps the deed to a house?
The person who keeps the deed can be either your lawyer when you bought the property, or it can be with your mortgage company if you have a mortgage.