Deed to property?
 

We paid off our mortgage and equity line a couple of months ago and got a letter from our mortgage company that said we should receive a deed from our county. Hadn't gotten anything so I called them and they said they mail everything back to the mortgage company.... :confused:

So I get to call the mortgage company who were utter weasels to try and sort that out. Anyhoo for those of you who have paid off your land/home what exactly did you get as far as paperwork to prove it? I assumed we would get something like the title on our trucks.

Not familiar with AR deeds, but will offer what I know about OK deeds. There should be a copy of the mortgage filed in the county court house. County Clerk or County Recorder, or what ever office handles land records.
When the mortgage is paid in full, the mtg. co. should file a lien release in the same office. Most states have laws stating how long a mortgage holder has to file said lien release.

Did you purchase the property from the mtg. co., or an individual? Either should have a deed from when they acquired it or transfered it to you. Title insurance or abstract of title?

Take your legal description to the courthouse and find the right office and ask to see the recordings for the section where your property. AR is civil survey, so the land will be in sections, townships and ranges.

The lien releases were filed according to our county clerk but they sent the deed back to the mortgage company. I can't for the life of me understand why they sent it to them instead of us but that's what they said.

We bought from an individual and we got a mortgage for it. We had title insurance when we bought it.

The joys of paperwork.

I've been waiting to get my deed since 2003 - well I wouldn't have expected it until 2004, but... Been a while. No idea what my own lawyer did with it.

The joys of paperwork.

--->Paul

If the payoff is recorded at the county clerks then you should be able to get a copy from them.

Yeah they can give me a piece of paper that says it is paid, I guess I would like the actual deed (which they say they don't have) and I would like to know exactly what you need to prove you own it. Never owned our property free and clear before so I don't know exactly how it works paperwork wise.

CONGRATS on paying off your loans :)))

Seems to me that sometimes I've gotten it in the mail from the mortgage holder and sometimes not. It always gets recorded with the town clerk and I go down there and get a copy from her of the actual recorded version with her stamp and date on it. I scan that in and store it on my computer. Photographing it is a good way of making a home copy. I don't have room for paper.

Cheers

-Walter
Sugar Mountain Farm
Pastured Pigs, Sheep & Kids
in the mountains of Vermont
Read about our on-farm butcher shop project:
http://SugarMtnFarm.com/butchershop
http://SugarMtnFarm.com/csa

Strange indeed. I would think that a copy of the deed to you would be recorded in your local courthouse. Contact your title insurance co. and insist on them providing a deed.

ETA. Several years of ad-volorem tax receipts should be sufficient, along with the lien release.

OK thanks. :)

Our deed to our 32 acres is my pride and joy:>) I hold it in such elevation it is above 2 marriage certificates, a divorce decree and 7 birth certificates and 4 adoption decrees. For sure track it down...it is not everyone who actually OWNS their property. I would like to frame it myself:>)

You should have the original deed from when you bought the property. You get it at closing. It is not like a car. The mortgage company doesn't get the deed. Once the satisfaction of mortgage is recorded that is all you need. Just get a copy from the property office of your county if you don’t have the original. The copy of the recorded deed is just as good as the original.

The paperwork was sent to the county where it should have been recorded. Sounds like they screwed up and sent it back to the mortgage company after that when it should have gone to you. No biggy. Go to your COunty Recorder (may be called something else there) and get a certified copy for your records.

Our paper work came from the County also. We received a notice from the lender that that we needed to sent a small fee to our Co. clerk (I think). It didn't take too long to receive the long awaited paper.
Congratulations!

I'm sure the deed process varies by State....but in Tennessee, you get a Warranty Deed whenever you buy a piece of property, whether you pay cash or get a mortgage. The deed is filed at the county registrar of deeds office showing the property transferred from the previous owner to you. You get your copy as soon after closing as the Wdeed is filed a the courthouse .....which you have to do yourself if you pay cash.

THEN if you do have a mortgage, there is a separate "deed of trust" filed, in which you grant the bank a lien on your property in exchange for them lending you the money to buy it. You also sign a note to the bank, but that isn't filed...the bank holds it. The deed of trust says "this deed is filed to secure a note between (you and the bank )"

When you pay off the property, the bank sends you the canceled note, along with a release notice they file with the registrar stating the deed of trust is now canceled as the note has been paid off.

But YOU have the property deed from the day of closing ( or as soon as filed thereafter )

TnAndy describes the process used in Alabama as well. I was also advised to go and have the notice that the lien was paid in full published in the county's official mortgage record books. That way there is no dispute even if my own records were distroyed.

Guess I will run in to the clerk's office sometime this week and see what I can get, thanks for the help! :)

It would seem weird to me that the county would have the deed.
usually the seller gives you the deed at closeing
THEN a copy of that is recorded by the county
No one but you should have ever had the deed.

I checked with my cousin and she agreed, you should have gotten your deed at closing. If you did not or if you misplaced it go to the courthouse and get a copy OR if your county is online you can print it right at home.

I went back through the original paperwork, we refinanced down to a 15 year loan 2 years after we bought this place, and there is a warranty deed from the sellers to us and also the title insurance paperwork. Fortunately they both survived the fire. :)

So I guess all I need is the paper work showing the liens have been paid and I am good to go right?

We actually have a researched deed book that goes all the way back to the first owner back in 1879. I need to see if I can fill in the gap of the last 40 years on it. Pretty interesting though how many times it turned over at the beginning!

#1, Only if you think you want a copy of the lien release for your records. As long as it is recorded at the courthouse, anyone can look at those records and see that the property is owned free and clear.

Researched deed book, or Abstract of Title?

Title insurance has become favored over Abstract of Title in the last 20 or so years because it is cheaper than having the Abstract brought up to date.

To fill in the gap, you can look through the records at the courthouse for your property and work backwards from the day you purchased and find records of all transactions (changes of ownership, mtgs, lien releases, easements, mineral leases, and such) tied to your property.

I did the research on mine when I bought the place....went back to the 1700's when it was part of a land grant by the King of England to some fellow, and this area of Tennessee was still a part of North Carolina. Apparently, the Cherokees that lived here then were not consulted about the matter....

The Mortgage Company / Title Company was likely holding your deed until you paid off the note on your property. When it was paid off, the Mortgage Company / Title Company traditionally sends the deed to the County Court to have it recorded. The County Court then typically sends the original deed back to the Mortgage Company / Title Company. It's not the Court's job to send you the deed. Anywho, The Mortgage Company/ Title Company then sends you the original deed in the mail. At least that's how I've seen it done in Arkansas.

Well considering how slow they were with every bit of paperwork on paying off the mortage I'll expect something from them in the next year or so. ;)

I have the abstract of title. As far as I know there were only 2 owners between us and the last deed in the abstract, the ones we bought it from and the people they bought it from and I know them both. :)

I was given the originals of both deeds to my property with the mortgage paperwork when I first got the mortgage. The deed in the previous owners name went from the previous owner across the desk to the bank president who after copying it attached it to the copies of the title search, deed application and mortgage agreement I signed. The following month I recieved an original deed in my name with a lein stamp on it via registered mail from the bank.

When I paid my property off I took my original deed with me to the bank and the bank loan president signed the lien release and notorized it and gave me the originals of the mortage agreement signed off and notorized also.

Patt-

Thank you for asking this question on the forum.

We are in the same boat...we paid the mortgage off a few months ago, and received a check from the mortgage company for the overage we paid in interest. We haven't heard a thing from them since.

We are in Indiana. I reckon that a trip to the clerk's office is in order.

I am thankful you asked this question!!!!!!

Also check the guidelines for your state. Many states require a lender to release the lien in a specific period of time or pay hefty penalties.

You're welcome! :) Looks like how it is handled varies quite a bit from state to state.

THAT WHY its important to put where your talking about when people post!

Hope those who have paid off their mortgage had a mortage "dead" party.When I read the OP I was thinking it was just a land pay off..WOW it was a whole mortgage payoff..PARTY TIME!!

Yep we definitely had a party! Specially since they make it very hard to pay off your mortgage and drag their feet as long as possible!

Congrats on become a land owner, free and clear.

Don't know about Arkansas, but I make my living in Texas's Courthouses. They pretty much as a rule always send the copy they receive back to who sent it.

I'd not worry, if it's registered in the courthouse... original deed should probably have been given when you bought it.

Did you get title insurance on your land? That 40 years would worry the heck out of me, if a title company prepared it, gave insurance, and didn't account for that period of time.

IF the land was improperly conveyed after an owner died, and they had heirs, those heirs could come back and reclaim their property. Odds are against it, but s happens. Could also be numerous liens filed on the property in that period. One of my 1st cousins bought land from his brother... surely you can trust your brother right? No title insurance needed. 5 years later, the IRS dropped by and demanded their 40K tax lien be paid, or they were selling the property at auction. He saved 200$ on title insurance, and paid 40K in tax liens.

...here's hoping if you do your own research, you don't dreg up some unwanted skeletons...;)

The abstract was done back in 1969 for the owner at that time, they just passed it on. We did the title insurance when we bought it so no worries there but I will fill in the three transfers in between.

We were also fortunate to get the mineral rights on it, we had never heard of that but at the closing they mentioned that they came with the property and we had to ask them to explain. Seems they made quite a mess with that situation here in Arkansas there have been all sorts of lawsuits and stuff since they started the shale drilling.

It is always a good dea to double check the court records yourself. I bartered for my land here. I traded three parcels in West Virginia for one in Virginia. The man I swapped with had a loan against the Virginia property which he paid off by selling two of the West Virginia parcels. The lender had to file a Notice of Satisfaction which they did but the court house staff indexed it wrong so at first glance one would think there was a $40,000 lien against the property. A simple error for a bureaucrat, a big headache for me if I hadn't caught the mistake.