Your SlideShare is downloading. ×
William Bronchick Coaching
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

William Bronchick Coaching

170

Published on

Virtually every county in the United States has a place where records of title are publicly recorded. The recording system gives constructive notice to the world of the transfer of title to property.

Virtually every county in the United States has a place where records of title are publicly recorded. The recording system gives constructive notice to the world of the transfer of title to property.

Published in: Business, Technology
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
170
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. The Property Recording System
  • 2. Virtually every county in the United States has a place where records of title are publicly recorded. The recording system gives constructive notice to the world of the transfer of title to property. Recording simply involves bringing the original deed to the local county courthouse or clerk and recorder's office.
  • 3. The original deed is copied onto computer or microfiche, recorded in ledger books (or computers), then returned to the new owner. There is a filing fee for the deed, which runs about $8 per page. In addition, the county, city and/or state may assess a transfer tax based on the value of the property or the selling price.
  • 4. William Bronchick gives practical tips about the property recording system in his CAREI coaching. He says that if you are trying to find out how much someone paid for a property, simply read the edge of the deed.
  • 5. The recorder usually prints how much transfer tax was paid on the margin of the deed. If you know the tax rate for transfers in your county, simply do the math backwards. By doing so, you will discover what was paid for the property, even if the purchase price is not stated on the deed.
  • 6. In his CAREI coaching, William tells that the most common indexing system is by grantor (the person conveying an interest, usually the seller or mortgagor) and grantee (the person receiving an interest, usually the buyer or mortgagee).
  • 7. All documents conveying property or an interest therein (deed, mortgage, lease, easement, etc.) are recorded by the grantor's last name in the grantor index. The same transaction is cross-indexed by the grantee's last name in the grantee index. A few areas of the country use a geographical grid system. By locating the property on a grid map, one can obtain all records of transfers and liens on the property.
  • 8. A few areas of the country use a title registration system, which is much like a car title registration. Proof of ownership is presented to the county recorder, who then issues a certificate of title. The certificate of title is conclusive proof of ownership.
  • 9. William’s CAREI coaching explains that every state has a recording statute, which dictates who, wins in a battle over ownership. Most states follow a "race-notice" rule, which means that the first person to record his document wins, so long as he received title in good faith, paid value, and had no notice of a prior transfer
  • 10. To learn more, visit www.careicoaching.com.
  • 11. Thanks

×