A legal document which is used to prove ownership of a piece of property is known as a title deed. Most commonly, title deeds are used by the people as evidence of ownership for homes and vehicles, although technically a deed of title could be issued for another form of property. A title deed in many regions of the world, confers certain rights and privileges on the person by whom it is held, and such deeds are considered necessary in such situations where people want to transfer ownership of their property.
What does a Title deed include?
A typical title deed includes a description of the property in question, written in such words that it cannot be confused with another property, it also mentions the name of the person who legally holds the property; it is possible to list multiple people on a title deed. It is indicated by an official seal that the deed has been recorded, and usually it is signed by the owner and a witness, and that witness might be a regional official or clerk.
Typically, title deeds are kept in a safe place, due to the reason that they are official legal documents, and if a deed is lost or stolen then it can be a pain to get a new legal copy. Many people use to make copies of their title deeds so that in case the original is lost or damaged they have a temporary measure in place.
Due to the reason that a physical title deed can be used to initiate a transfer of ownership, so it is a good idea to keep such deeds in a secure location so that they cannot be stolen and used to transfer the property to someone else.
People sometimes add someone to the title
When once a property is sold, then a new title deed is issued having the owner’s name. However, there are cases when sometimes people don’t want to sell property, but they are willing to add someone to the title, for one reason or another. Before doing this people should think carefully, due to the reason that once someone’s name is on the title, he or she has legal control of the property, and this could create a problem for the owner.
How to add someone to the title?
If a person is willing to add someone, it is necessary for him to go to an agency which handles title deeds, like a Department of Motor Vehicles for cars, or a title company for real estate, and then he has to fill out a written request in order to issue a new deed with the additional name or names.