Link state in the Mortgage Deed

Aug 6th, 2022
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How to link state in the Mortgage Deed

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All right, in todays video were gonna discuss deeds. Now, Im not gonna talk about the different types of deeds in this video. If you want a video on the different types of deeds, go ahead and click right up here. The little i in the upper right hand corner. Thatll take you to that video. Today were gonna discuss basically the purpose, how we convey tile using a deed. Remember, conveyance of title simply means transfer of ownership. Were gonna talk about essential elements, what kind of things must a deed contain, for it to be legal and valid. And then whats the purpose of recording the deed. So lets get started. First thing we want to talk about is the deed. Whats the purpose of the deed? Well the purpose of the deed is to transfer, to transfer ownership. Now we call that conveyance of title. Those two terms can be used interchangeably, and you dont know how the real estate licensing exam question is gonna be structured. So they mean the same thing. The other part is transf

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While each mortgage situation is different, often times it makes more sense to have both names because it allows for two income streams, which ultimately helps you qualify for your loan amount.
Whos going to get the house? Well, its kind of a trick question because it doesnt matter. It doesnt matter whose name is on the deed or whose name is on the mortgage. Nine times out of 10 what matters is when the house was purchased and with what type of funds it was purchased.
In other words, if your name is on the deed, you are tenants-by-the-entireties, and if one of you dies, the other owns the property entirely. If you are not on the mortgage for whatever reason, you are not liable for paying the mortgage loan. That said, you get your spouses interest in the property if they die.
When It Comes To Deeds, Does it matter whose name is first on a house title?? Property deeds do not generally affect ownership rights based on the order in which the names appear. It is essential to specify in the deed what kind of ownership is assumed, such as: Ownership sole.
A general warranty deed is used to transfer real property from one person to another. This type of deed offers the greatest protection for the buyer and has specific requirements for what must be included in the document.
Because your name appears on the mortgage, you are responsible for making the payments on the loan, just like the property owner. Without actually owning the home, you have all the homeowners responsibilities. There are several reasons why having only one spouse on the deed is bad.

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