Posted by Jane,MD on 8/10/05 12:57pm
Msg #58073

what doc. represents the title of a property?

Many refers to the DOT, which is a lien on your property, as the title of the property. Can somebody enlight me on this subject ? TIA

Reply by Art_MD on 8/10/05 1:11pm
Msg #58077

The title is usally the deed that is recorded in the courthouse. You buy a house, you record the deed in your name.

You take a loan, in a "deed of trust" state (MD is a DOT state), you give a lien on the house to some entity, which records the DOT. The DOT is in the name of a trustee who hold it in good faith that you will pay the lender. When paid off, the DOT is marked paid and given back to you and there is a recording that the loan has been satisfied.

To find out difference between a DOT and a mortgage, best if you searc the board. I'm sure you'll find it. It is easier to forclose on a DOT than on a mortgage.

Art

Reply by Jane,MD on 8/10/05 1:33pm
Msg #58082

Found it. Thank you so much for sharing your knowledge on this matter .

Reply by MJFL on 8/10/05 2:36pm
Msg #58107

I think you helped her take a course online.

Reply by Art_MD on 8/10/05 4:27pm
Msg #58142

Re: Gave benefit of doubt. N/M

Reply by MarleneM/USNA on 8/11/05 8:56am
Msg #58255

Re: Gave benefit of doubt.

Which is a nice thing to do, not suspecting the worst of everyone.

Reply by Art_MD on 8/10/05 4:30pm
Msg #58143

Re: I think you helped her take a course online.

Any course or certification is meaningless here in MD. Only 2 things matter - Notary commission and Title Producer's license. You have them - you can get signings.

Art