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What are Some Important Property Records You Should know About?

Many people do not know this, but in the industry, real estate is also known as immovable or real property. This mainly includes both the land, the property on the land as well as any subset of the land that has been improved by humans. Such subsets can include ponds, canals, buildings, roads, or any permanent addition to the land.



However, to gather all information about the property, you will need the property records. Attorneys, property owners, and real estate agents require such records as this information can influence the value of the property. Property records contain all the information you might need about the property, such as deeds, liens, mortgages, and plats. This article further explains each of such records in detail.

1.     Deeds:

These are legal documents that allow the owner to transfer ownership to the seller. The main information mentioned in this document is the name of the owner. It also outlines the grantee and grantor a section of the property and also the date the real property interests get transferred. Different states might have different requirements for the types of deeds each party can use to transfer the property interests. This is why it becomes important that you choose an attorney to look at the deeds. You can also read up about it on PropertyRecord.com.

2.     Liens:

The next most important real property record you must look at is liens. This mainly consists of information about involuntary and voluntary liens on one property. For instance, if a property has more liens, this can make the sale a lot more difficult. Before an agent can sell your home, they have to have the lien information as this can directly affect the price of your property. It will also affect the commission of the agent from the sale, as the profits from the sale must first go to the lien holders. This only means the more the liens, the lesser profits the agent will make.

3.     Mortgages:

Mortgages are undoubtedly one of the more popular documents to check before buying or selling a property. It helps you know the lenders, liens, and borrowers the property in question might have had. It shows the information about the real ownership of the property, which can affect its valuation of it. For instance, the agent can know the sale amount, date of sale, liens, and other loan information of the property. You can learn more about this on PropertyRecord.com.

4.     Plats:

This is mainly a map that shows the boundaries of the particular property in question. For agents, attorneys, and landowners alike, plats help understand the exact size of the property, what real property is included, and also the location. Plats help understand the value of the real property as it shows if the property includes any lakes, ponds, or roads.

These are some of the most important and commonly required property records that an agent and attorney need to ensure the property is placed at the right value.

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