Home Buying in Indianapolis>Question Details

Noam Ben Zvi, Home Owner in Indianapolis, IA

As an investor from abroad I would like to get an advice what kind of document I will get to ensure my buying ? To say it is legally my property?

Asked by Noam Ben Zvi, Indianapolis, IA Sat Dec 1, 2012

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Hello Noam,
You will get a deed that states your ownership. If you are buying through an agency and you have a title company or attorney handle the closing. You or the seller will buy title insurance that will insure your ownership. I have many foreign nationals as clients.

I hope that helps,
Nancy
0 votes Thank Flag Link Sat Dec 1, 2012
Hello Noam,

You will get a deed (General Warranty or Limited Warranty if a bank sale) which will be recorded in the county in which the property is situated. In addition, you or normally the seller will pay for title insurance which insures you for claims against the title. The title company conducts a search of chain of title, and if it's clear, issues the title insurance policy.

Peter Knight
RE/MAX
(317) 529-4178
1 vote Thank Flag Link Sun Dec 2, 2012
If you need help with this call Jamelle Walker Realtor 317-453-0917
jamellewalker2002@yahoo.com

Title - legal document that shows you own it.
0 votes Thank Flag Link Sun Jul 7, 2013
Noam, the most comment documents that Americans use to say the property is legally yours would be a title insurance document and a deed on the property. If you finance the purchase with borrowed funds, the lender will make sure all documents are appropriate and executed correctly. If it is a cash sale, I would suggest you retain an attorney to work with your realtor in order to make sure that all documentation is accounted for. Both professionals are there to work for you, but the attorney is not a realtor and the realtor is not an attorney, so they would compliment each other and both be working for your best interest. It could be that you just have the attorney look over the contract and the documents to make suggestions and approvals.

You have many people on here wanting to help you, but I would be happy to assist you further if you should need any,

Julie Barnett
Broker Associate/Realtor
Prudential Indiana Realty Group
(317) 847-0055
0 votes Thank Flag Link Fri Jan 4, 2013
If you are looking for good, turn key, cash flow units give me a call
Tom Michalic
Eco-Nomical Contractors & 360 Realty
tom@360-Realty.com
cell 812-208-0386
0 votes Thank Flag Link Wed Dec 5, 2012
Thank you for your question:

In The United States of America, the law with respect to the ownership and transfer of ownership in Real Estate is governed by the law of the State where the Real Estate is located.

Fortunately, the law of all 50 States in The United States of America, the law of each state is reasonably similar to the law in the other States , but there are some dissimilarities as well.

It is very important that you hire someone who has a great deal of experience and expertise in the State where the property is located. This is particularly true if you are buying several different properties that are located in different states.

Essentially to guarantee that you have good title to the property you need several things.

First:
At the very least you first need to know what other liens are recorded against the property. This requires a search of the records of The County Recorder's Office. A good Title Insurance company can do this for you.

Second:
You should have your interest in the property insured against others who may claim an interest in the property. A good Title Insurance Company will offer you a policy of Title Insurance to insure your ownership interest in the property. A good Title Insurance Company will make absolutely certain that any liens against the property are paid from the sale proceeds, and that any legal disputes with respect to the title of the property are resolved, before the escrow is closed and the funds are disbursed to the seller. The Title Insurer will then insure your interest in the property and resolve any disputes with respect to your ownership interest in the property and pay any claims for ownership interests or liens that the Title Insurer may have missed.

Third:
You should have an escrow provider collect the money in a Trust Account during the escrow period and make certain that all of the terms of the agreement have been met before disbursing the funds from the escrow account. The escrow provider should also make absolutely certain (confirm with The county Recorder's Office) that your ownership interest is recorded with The County Recorder's Office upon disbursement of the funds in The Escrow Account.

Fourth:
With respect to the actual document that is best . That will vary from State to State. In the State of California where I practice Real Estate, the document is generally referred to as a Grant Deed. In some other states it is referred to as a Warranty Deed. Your escrow provider and Title Insurer will make certain that the best documents are recorded, depending on which State the property is located.

These are some of the more important issues to keep in mind when purchasing property in The United States of America.

For more information, you may reach me at my cell phone: (408)509-6218. Or send me an email at my email address: charlesbutterfieldbkr@yahoo.com

Thank you,
Charles Butterfield MBA
Real Estate Broker/REALTOR
American Realty
Cell Phone: (408)509-6218
Fax: (408)269-3597
Email Address: charlesbutterfieldbkr@yahoo.com
State of California DRE#00901872
.

,
0 votes Thank Flag Link Sun Dec 2, 2012
You will get a deed, which is a written instrument that transfers title from the seller to the buyer. Even better, however, is that the transaction will be recorded in a local registry for all the world to see, so that if anyone claims to own your property, the proof will be right there in the local registry.
0 votes Thank Flag Link Sat Dec 1, 2012
Conveyance of the Property shall be by General Warranty Deed, or by Special Warranty for most REO [Bank Owned Properties].
0 votes Thank Flag Link Sat Dec 1, 2012
If you mean insurance against title defects check out FirstAm.com. 317-697-9340
0 votes Thank Flag Link Sat Dec 1, 2012
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