? For someone who understands real-estate - mortgages -?

Question

I need help with understanding online website that shows the property tax document of someone and how much someone paid for a home. When it says a $1, did the person really get it for a $1? And how does that work when a person gets devorsed, do people really get the home for a dollar from their x? When it says DEED instead of Mortgagee or Mortgagor, does DEED mean they own the home? Also, do you have to show notice in a newspaper? Thanks ahead of time if you can help me with this! :)

Answer 1

Usually that means that the price was undisclosed.  The divorce should go either off the assessed tax value of your county, or get an indipendant appraiser to value the house.  Yes a Deed instead of Mortgagor means they paid cash, and there is no lein on the house.  and Show notice for what? the final question is too vague to answer.

Answer 2

No, it does not mean they bought it for one dollar. However, mthe transfer tax stamped on the deed will allow you to determine the price.

The documents filed vary from state to state. I am former Recorder of Deeds.  The deed in Delaware is independent of the mortgage.  It give name of seller, buyer, location, etc.  

The loan documents are filed separately in Delaware.  Those are used to attach a lien on the property, and are removed when loan is paid in full.