Saturday, November 16, 2019

Jerry Palmer on deeds

Jerry Palmer, an attourney provided the following infromation on deeds for me,

"Warranty Deed is what a buyer of a house would get from the seller to covey all title to the property , without any exceptions. 

Mortgage is what the buyer would give to the Bank that loaned the money to purchase the house , that gives the bank security if buyer doesn't make the payments on the loan they can sell the property to repay the loan by foreclosing the mortgage. This is a very simplified and general explanation only valuable to understand in a historical sense the dealings shown on the abstract of your house title . The words mean the same thing today."

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