What’s The Difference Between a Deed and Title?

[Ken and Ari Walker]

We often find the “deed” and the “title” for a property are used interchangeably, but they actually have different meanings. As James Erwin, founding partner of Illinois-based Erwin Law LLC and an expert in real estate, explains it: 

“Title to real estate is simply its ownership status, and a deed is the document used to transfer the ownership.” 

The property’s title is really an intangible concept. The deed, however, is something you can actually hold in your hands. 

What about title insurance? The reason you are required to obtain title insurance when buying with a mortgage is to protect yourself and your lender from financial catastrophe. Even if the title search comes back with a clear title, you will also need to pay for title insurance if you’re taking out a mortgage.  

Title insurance is a one-time expense and is part of your closing costs. The price is typically between 0.5% and 1% of the total cost of the home.  Hopefully this provides a clearer understanding of the difference between “deed” and “title”.  Always good to know more, than to be uncertain! 

Best,  

Ken & Ari Walker - Your Direct Private Money Source  

 

Husband & Wife Team  

Phone: [phone] / Office: 1400 N. Dutton Ave #22 Santa Rosa, CA 95401 
Ken: CA DRE Broker #01858042 / NMLS #1221130 
Ari: CA DRE #01858152 / NMLS #2170867 

 

Bio: Ken & Ari are a husband & wife team with over 30 years of combined real estate and private money lending experience.   They like working with buyers & borrowers, as well as directly with other licensed individuals who have clients in need of fast & alternative financing, and who can benefit from Private Money mortgages. (Qualify for our financing despite DTI ratios, credit score, property condition, difficult to prove income, etc. on purchases and refinances for owner occupied & investment properties.)