Even if you've started living in a house with a loved one and don’t have your name on the title, you should still understand how county records affect property ownership in case anything happens. A reliable title company can thoroughly explain real estate terms and processes to you, but knowing mortgage, deed and title basics can give you a head start.

What a House Title & Mortgage Are

First, keep in mind that a house title (or deed) and mortgage are two different documents. A house title (or deed) proves you claim ownership to a property. On the other hand, a mortgage may either refer to the loan itself or a document created when you refinance or raise funds for a home. Sometimes called a “deed of trust,” a mortgage grants a lender the right to possess the property if the borrower is unable to repay the loan. 

During a closing, property transfers to the buyers upon execution of a title deed. The house title or title deed, which is a product of this meeting, is then recorded by the title company in the county where the property is located in order to memorialize the buyers’ claim of ownership to the property.

Owner’s Title Insurance is one sure way of protecting your ownership of property.

Why the Names on Them Are Important

During a home closing, in most cases, you can decide how, and if, your name will appear on the title or deed. For instance, if you and your partner are purchasing a house, you can choose whether to appear jointly, providing your mortgage lender does not object. If your name is not on the house title or deed,  you may not have a claim on the property if you two part ways.

If you think it's better to have your name on the title deed and not on the mortgage, know that this can still have consequences.  In addition, as long as Ohio is still a dower rights state, you or your spouse will be required to release dower interest by signing the mortgage document even if you both are not obligated on the mortgage note.  If the person who signed the mortgage note stops paying for the loan, the lender may want to foreclose on the property. On the other hand, if your name is on the mortgage, then you are obligated to repay the loan if you sign the mortgage note.

Working with All Points Title & Closing, Inc., in Hamilton, OH, helps protect your property ownership rights. This esteemed escrow service company has been the trusted name in the area since 1986 for house closings, title searches, and title insurance. Call them today at (513) 863-7600 if you want the services of this top-notch title company, or visit their website to get in touch with them online.