CAREl Coaching Offers Insights On Property Recording System For Better Management
To publicly record the titles, almost every county in the US has a specific place to do that. With this the recording system sends a notice to the world declaring the transfer of title of property. The whole recording procedure involves bringing an original deed to the local county courthouse or clerk and to the office of the recorder.
It follows further when the original deed is copied onto computer or the microfiche, recorded in ledger books (or computers) and then returned to the new owner. It should be mentioned that the whole procedure costs a fee which is around $8 per page. Apart from that, the county or the state/city can assess a transfer tax depending on the actual value of the property and its selling price.
William Bronchick is a renowned personality who provides practical tips on the property recording system in his CAREI coaching to his students. As per his instructions, to know about how much a person paid for his/her property, one only needs to go through the pre-existing deed.
The recorder is then obliged to print the amount of transfer tax that was paid on the margin for the deed. In case a person knows the tax rate for transfer in their county, they only need to do the math backwards with which they can discover the amount that was paid for the property despite if the purchase price is not stated on the deed.
William Bronchick in his CAREI coaching suggests that the most common indexing system is through a grantor (usually a person that conveys an interest or the seller or mortgagor) and grantee (usually a buyer or mortgagee or a person who receives the interest).
In some cases there is a method called title registration system which is similar to car title registration and allows an owner to present the proof of ownership. It is presented to the county recorder and they can issue a certificate of title which is then a conclusive proof of ownership.
In his CAREI coaching, William Bronchick explains that each state has its own unique recording statue which allows people to identify who wins the battle of ownership. He further exclaims in his CAREI coaching that most of the states usually follow a ‘race notice’ rule that allows the first person who records his ownership to win. To know more, please browse through www.careicoaching.com.