How is a deed different than a title.?

Question

Is it possible for one person to hold the deed and another to hold title?

Answer 1

The Deed is actually the legal instrument that  transfers the property ie. General Warranty Deed.

The title is simply a record of WHAT you are buying and reflects the correct owner, or chain of owners ie. chain of title.  Title will have the full legal description, and any easements reflected on it.  It will also reflect a full list of liens on the property.

A NOTE is the legal instrument that you sign to mortgage the property....these are not in any way connected to the title or the deed, as not every house is required to have a note, but they all have a deed and a title.

Some posters are confusing it with a "Deed of Trust"...this is the SAME THING as a mortgage and HAS NOTHING to do with ownership.

You can be legally obligated to pay for a property that you don't own.  Mortgage banks don't care b/c it still doesn't change their lien position on the property or their ability to foreclose.

Answer 2

Ok, the person holding the Deed is the owner of the loan. The Deed of Trust is usually 15 pages long and is security against the home for the amount of money borrowed against the property.  The title is who is making the payments and how someone holds title is going to determine what happens to the property if the person who holds title gets divorce or dies.  Does that help?