The prospect of buying a house is thrilling. However, it can also raise many questions, especially concerning loans or the title. A frequent query is:
“If I have a mortgage, do I have the title to my house?”
The quick response can be yes, however with a minor caveat. This blog will discuss what this means in plain phrases. We’ll also teach you how to find an exact record of your deed or title on the internet and what to do in case you’re unsure who owns it.
What Is a Title?
The title is an official document that proves that you are the owner of your property. It demonstrates that you own your home.
It comprises:
- Your name is
- Details about the property (like dimensions and address)
- Legal claims or liens
Imagine the title as a residence’s birth certificate.It serves as evidence that you legally own the property.
What Is a Mortgage?
A mortgage is a loan that you get to purchase a house. You can borrow money from an institution (like the bank) and then pay it back every month.
If you are in the market for a mortgage:
- You’ll still have the house
- However, the lender does have a claim (called an encumbrance) for the home
If you don’t pay your mortgage, the lender may foreclose on the house.
So, Do You Have the Title If You Have a Mortgage?
Yes. You own the title. Your name appears on the title. The title represents your lawful ownership of the property.
However, the lender holds an obligation to your house. That’s a reference to:
- You may reside in your home
- It is possible to sell it (but you must first make sure you pay off your mortgage first)
- Your responsibility is for property taxes and insurance
You own the title. However, you’re still not “clear” until the mortgage is paid in full.
Who Has the Deed to My House If I Have a Mortgage?
This is a common question.
A deed is a document that conveys the ownership of the property. When you purchased your house and the seller formally transferred the deed to you.
Then:
- The office of the city or county records office keeps the records in a backup
- Your closing attorney might also have copies
- The lender might have an original however, you are the owner.
Even if you’re a homeowner, you hold the deed — or can easily obtain an original.
How Do I Get a Copy of My Deed to My House?
Finding a copy of your deed is simple. Here are a few steps:
1. Check Online (If Available)
Numerous counties offer on-line access for property information. Visit the county’s property record site and then follow the steps:
- Search using the name of your address or by
- Look for “Grant Deed” or “Warranty Deed”
- Get a copy of the book free of charge or pay a small cost
2. Visit Your County Clerk or Recorder’s Office
If your region isn’t online:
- Go to the local county clerk’s offices
- Request a copy of your title deed
- They could charge a modest cost (usually less than $20)
3. Ask Your Title Company or Real Estate Agent
If you have recently purchased a house or property, the firm that handles titles or a real estate agent can send you an official copy. It is usually sent upon closing.
How Do I Get a Copy of My House Title for Free?
If you mean by “title” you mean your deed or ownership document Here’s how to obtain it for free or at a low cost:
- Online Many counties allow you to get the title free on their websites.
- Public Records Office Go to the Recorder’s Office and request an official public records copy.
- Requests via phone or mail: Some states allow requests for HTML0 via telephone or mail. Go to their website for information.
Tips Make sure you search the official website of your county’s official site to stay clear of scam websites which charge hefty fees.
If You Have a Mortgage, Do You Have the Title Online?
You may be wondering whether your title is being stored online.
Here’s the solution:
- Certain counties contain electronic copies of titles and deeds.
- They are usually kept within records in the records of the county’s electronic system.
- You can search for the name or the number of your parcel.
In many locations, you can view your title online -or at least your official record to prove that you are the owner.
What Happens to the Title When the Mortgage Is Paid Off?
When you’re finally able to pay on your loan:
- The lender is required to make an release of Lien or Satisfaction of Mortgage
- This eliminates their claim from your title
- Your title is right now “clear” -it is completely yours, with no any liens
It is possible to ask for an new duplicate from your name following the payment is made to ensure your documents.
Final Thoughts
Now, let’s get back to the fundamental issue:
If you own a mortgage, do have title?
Yes You do! You are the legal owner. However, your lender is able to place an obligation until you are done paying off the mortgage.
Remember:
- You can obtain an online copy of your document copy or title on the internet.
- The majority of counties maintain the public records of property
- If you’re ever unsure, contact your county clerk, title company, or real estate agent
The ownership of a home is not without many questions, but finding answers needn’t be a hassle.
FAQs
Q: Can I sell my home with a mortgage?
No. But you must make use of the money you earn from selling to make the loan payment first.
Q What is a lien?
An loan can be regarded as a legally valid right that the lender has on your property until you pay back the loan.
Do I require an attorney to obtain my document?
No. You can obtain it from the county records office or on the internet.
Q: What happens if I lost my house’s title?
You can request an new copy at your neighborhood recording office.