What does it mean when your escrow or real estate agent says we're waiting on the county to record?
Recording with the county and transferring title are important steps in the process of buying or selling real estate. Here's what you need to know:
Recording with the county: When a property is sold or transferred, the transfer of ownership needs to be recorded with the county where the property is located. This process is called recording. The purpose of recording is to give public notice of the change in ownership and to establish a clear chain of title for the property. Recording helps to protect the buyer's ownership rights and can be used as evidence in legal disputes.
To record the transfer of ownership, typically the escrow agent will need to file a deed with the county recorder's office. The deed is a legal document that transfers the ownership of the property from the seller to the buyer. Once the deed is recorded, it becomes part of the public record and is available for anyone to view.
Transferring title: Transferring title is the process of legally transferring ownership of the property from the seller to the buyer. This is done by executing a new deed that conveys the property from the seller to the buyer.
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In summary, recording with the county and transferring title are critical steps in the process of buying or selling real estate. These steps help ensure that ownership rights are clearly established and protect the interests of both the buyer and seller. It's important to work with a knowledgeable real estate agent and attorney to ensure a smooth and successful transaction.