Securing a record of property ownership involves acquiring a duplicate of the legal document that transfers title from one party to another. This document, containing details such as the legal description of the property, names of the grantors and grantees, and date of transfer, serves as definitive proof of ownership. An example of when this action is necessary is when the original is lost, damaged, or required for legal proceedings.
Possessing this record is vital for various reasons. It provides assurance of property rights, aids in resolving boundary disputes, and is often required for transactions such as selling, refinancing, or obtaining a loan secured by the property. Historically, maintaining accurate land records has been essential for establishing a stable real estate market and protecting property owners’ interests.
