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,
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.
You have many people on here wanting to help you, but I would be happy to assist you further if you should need any,
Prudential Indiana Realty Group
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.
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.
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.
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.
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: firstname.lastname@example.org
Charles Butterfield MBA
Real Estate Broker/REALTOR
Cell Phone: (408)509-6218
Email Address: email@example.com
State of California DRE#00901872