May 30, 2019 | By RGR Marketing Blog

The Differences Between a Home Deed and a Title

Mortgage LeadsMortgage clients often mistake the home deed for the title and vice-versa. As a mortgage officer, you need to educate your clients to ensure they know as much about the varying terms used throughout the process of buying a home. This is an excellent opportunity for proving yourself to be an indispensable source of information and a trusted partner.

Here’s how to explain to your mortgage clients the differences between these two often misunderstood documents.

What Is the Home Deed?

The home deed is the legal document that transfers the home’s title from the seller to the buyer. According to the Statute of Frauds, a home deed needs to be a written document. The deed to a home must also be recorded in the courthouse or assessor's office to make them fully binding in most states.

If the deed isn’t filed on time, this does not alter the legal transfer of the title. It simply results in what is known as an imperfect deed. This does not mean that there is a problem with the actual deed itself, but rather there were problems with how the paperwork was filed and/or processed. When a homeowner has an imperfect deed, if there is ever a legal challenge to the deed, then the paperwork will need to be cleared with the state.

What Is the Title?

The title of a home gives your client the legal right to say they own it. It refers to the ownership of the property and it is what gives your client the legal rights to use that property. Titles can be written as partial interest or full interest. Partial interest is when your client co-owns the property, while full interest means that the client alone owns the property.

Regardless of the type of title, your client is still granted legal access to the land and the ability to modify it as they see fit, if their plans are in accordance with local building laws. Having a title also means that your client can transfer (or sell) the property or the portion that they own to others. If the client has partial interest in the property, then they are not legally able to transfer more than they own.

RAR Marketing’s Validated Mortgage Leads Can Help Your Company Grow

If you want to be the best mortgage officer possible, you need to be able to provide your clients with the best understanding of the mortgage process. If your organic lead generation efforts aren’t delivering the quality leads you expected, try purchasing high-quality mortgage leads from RGR Marketing.

We have been providing mortgage companies like yours with verified and validated leads for over 20 years. Plus, your list is exclusive to you, meaning we won’t share your leads with other mortgage companies or lead-gen businesses, thus giving you every chance to close the deal. Give RGR Marketing a try today and see how our leads can help your mortgage business grow.

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