A buyer’s deed (the physical title to their home) is recorded to legally recognize the buyer as the new and official owner of the property. That way, when someone goes to the office of the recorder of deeds, the sellers name is no longer listed as the current title holder. The buyers name would then be last on that homes chain of title.
A deed gets recorded by either the title company that dealt with the closing, or the buyer, who would receive the deed from the title company and deliver it to the local recorder on their own time.
It is important to make sure the deed is recorded properly, or real estate tax bills might get sent to the wrong home. If property taxes are not paid on time, the buyer can easily loose their new home, so double checking the name, address, and all other information that will be listed on the deed should be part of the process.
In most cities, deeds are not updated and to have a deed changed can take months or in some cases won’t record until the following calendar year. This is important to note if you are only going to keep your home for a short time and need to change the recording.
It is also a good idea to jot down the days that tax bills should be received, so in the case that there does happen to be an error, you can call the records office to correct it before it turns into a major problem.
If a home is kept as an investment, but the owner is no longer living in it, always have the address where tax bills are sent changed, so taxes are continually being paid.
Please note that this Scottsdale Real Estate Blog is for informational purposes and not intended to take the place of a licensed Scottsdale Real Estate Agent. The Szabo Group offers first class real estate services to clients in the Scottsdale Greater Phoenix Metropolitan Area in the buying and selling of Luxury homes in Arizona. Award winning Realtors and Re/MAX top producers and best real estate agent for Luxury Homes in Scottsdale, The Szabo group delivers experience, knowledge, dedication and proven results. Contact Joe Szabo at 480.688.2020, [email protected] or visit www.scottsdalerealestateteam.com to find out more about Scottsdale Homes for Sale and Estates for Sale in Scottsdale and to search the Scottsdale MLS for Scottsdale Home Listings.