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Once you purchase a Lake Oswego home, you most likely file away the closing papers and may not look at them again, at least not for a while.  However, last year while selling a second home to a past client, I came across the title to their existing home, which I had previously sold them, and saw the names were incorrect on their deed. They were keeping that first home but I felt the deed should be corrected. The county had incorrectly typed their names when the deed was recorded and at the time title was transferred.

Lake Oswego Real Estate Is Your Name Correct On Your Deed

Thankfully, it was an easy fix to make sure the legal documents were in the correct name of the homeowners. Recently, I saw where another local real estate agent had encountered the same thing on one of the properties owned by one of their sellers.

Lake Oswego Title Discrepancies

In addition, I’ve been updating my database and I see where counties have no names of the owners on some of the properties I have been checking on.  In fact, I’ve had to order a title search to determine who in fact owned the property I was inquiring about.

Does The Title/Deed To Your Home Have Your Correct Name?

Have you checked the legal title to your property lately? When was the last time you checked your deed at the county? Does the county have the correct names, forwarding address if any, and how you want to retain ownership?

Life Changes

There always seem to be short sales, foreclosures, marriages, divorces, loans paid off, etc.  The legal documents to your home are important and should be correct.  Need help with finding out if the title to your Lake Oswego home is correct?  I can help you get it straightened out easily, just give me a call 503-804-9685.

Searching for Real Estate

My phone app http://app.summarealty.com/SMAFZ, has recently been updated.  If you are looking to purchase, this is a great way to search.  Or, if you want instant notifications from RMLS™, please let me know and I can arrange for you to receive alerts for listings as soon as they come on the market for sale.

Thinking of Selling Your Lake Oswego Home?

Interest rates are still low and there is still a huge pool of buyer demand. Buyers are ready and willing to purchase your home. Call me at 503-804-9685 if you are thinking of making a move.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

Having worked in Lake Oswego as a Real Estate Broker since 1978 and lived in Lake Oswego since 1988, I know all the neighborhoods. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2017. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

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Lake Oswego Real Estate How To Take Title To Property In Oregonhttps://lakeoswegorealestateblog.wordpress.com/

When purchasing property in Oregon, it is important to take title in the manner in which you intend.  There are different ways to do so as outlined below:

THE FOLLOWING INFORMATION IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO REPLACE LEGAL ADVICE FROM YOUR ATTORNEY OR TAX CONSULTANT.

As an individual Man/Woman –

An individual may hold title in his or her name alone whether they are married or unmarried. If the individual is married their spouse has no rights in the property (i.e. Jane Doe, an individual) during the lifetime of the owner.

Tenants by the entirety/Married Couple –

Oregon Revised Statutes (“ORS”) 93.180 provides that a conveyance to a married couple is presumed to create a tenancy by the entirety which is a survivorship estate as between the two parties, i.e. the title passes automatically from a deceased party to the survivor, unless they express a specific intent to hold it in a different manner. (i.e. John Doe and Jane Does husband and wife or John Doe and Jane Doe tenants by the entirety).

Registered Domestic Partners –

House Bill 2007 provides that persons of the same sex who comply with the registration provisions are afforded the same privileges, immunities, rights and benefits afforded to married persons. Individuals may take title as tenants in common (see below) or they can take title in a survivorship estate similar to a tenancy by the entirety. (i.e. John Doe and Fred Buck as Oregon registered domestic partners with the right of survivorship)

Survivorship Estate –

ORS 93.180 provides that two or more individuals may take title in a survivorship estate; i.e. title automatically passes to the surviving person(s), if they state the intent to do so (i.e. John Doe, Fred Buck, Mary Shelley with rights of survivorship).

Tenants in Common –

ORS 93.180 provides that a conveyance to two or more persons who are not married are presumed to be tenants in common, that is each has an equal, or as otherwise stated, undivided interest in the property (i.e. John Doe, Fred Buck and Mary Shelley tenants in common).

Entity –

A recognized legal entity may hold title to real property, examples are Partnership (general or limited), Limited Liability Company, or Corporation. The grantees name should be exactly as registered with the State of Oregon or other state where the entity was created.

Representative Capacity –

Title to real property may also be held by an individual or entity in their capacity acting on behalf of others, e.g. John Doe, Personal Representative of the Estate of Mary Shelley, deceased, John Doe, Trustee of the Mary Shelley Trust, etc.

Source:  First American Title Insurance Company

Thinking of Selling Your Lake Oswego Home?

Interest rates are still low and there is still a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your condo or townhouse. Call me at 503-804-9685 if you are thinking of making a move.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

Having worked in Lake Oswego as a Real Estate Broker since 1978 and lived in Lake Oswego since 1988, I know all the neighborhoods. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2017. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Contact Betty Jung

Betty Jung, Broker
REALTOR®
CRS, GRI, ABR, SRES, CNHSS

Summa Pacific Cascade
4949 Meadows Rd. #100
Lake Oswego, Oregon 97035

Licensed in the State of Oregon

503-804-9685 Cell

or email:betty@bettyjung.com

"Selling Real Estate Since 1978. There Is No Substitute For Experience!"

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