What obligations does one take when a deed to property is recorded?

[palani]

From Popular Guide to Modern Legal Principles by Francis W. Marshall, 1953 pg 420

When a deed or other conveyance is duly recorded and registered in the name of a given person, he, as the registered title holder, is regarded as the "owner" for purposes of assessment and taxation and is personally liable for taxes levied on the property. This liability attaches because he holds himself out to the world through public records as owner by being registered and recorded as owner. That such a registered owner, though holding the title absolutely, is merely a dry trustee for the real owner does not relieve him from that liability ... Persons accepting such trusts must understand that they place themselves in a position where they become liable for taxes levied on the property while title is in their name.

Lin, J., F.P, Trust Co v Land T.B. & T Co, 192 A. 121, 326 Pa. 262, 1937

What is the effect of recording?

The ruling of this court has been, under our recording laws, that a purchaser or incumbrancer may rely on, and be protected by, a clear and regular title of record, unless affected by notice of secret adverse titles or liens. Such was the manifest object and purpose of this law, and it has ever been so enforced. The very object is that all persons having any deed, mortgage, or other instrument in writing relating to or affecting the title to land shall record it, or failing to do so, as against innocent subsequent purchasers or lienholders he must be precluded from asserting his claim.

Ogle v. Turpin, 102 Ill. 148, quoted by Sullivan, J., in Polish N.A. of U.S. v. Lipinski, 6 N.E. 2d 320, 288 Ill. App. 234, 1937

Failing to record would appear to be fatal to claiming ownership; so simply settle for mere possession.

[andrewmitch]

What if you unrecorded your name from the county records to remove yourself as the owner as per the town's records. But, you secure your right to the house via the Land Patent, Contract w/ the previous owner, and via your state's Adverse Possession statutes?

andrewmitch@yahoo.com

[jcsmjd]

I know this may not be spot on topic; however, consider the following:

Why does a man/woman/entity need to record anything? All that needs to occur is notice of transfer. If you record a deed other than a trust deed then transfer taxes will be levied. However, if a notice of transfer is given, then there are no taxable events and the deed is held privately outside of the registry.

A convenient mailing location can be given for process to a Trust via its trustee on behalf of the deed holder. This is a very powerful, at arms length approach.

Many deeds today are held privately outside of the courthouse/registry/system. In fact, once the deed is signed, the property has been conveyed. Notary service is only for recordation. The notice will need to be notarized, but the signature can be in the capacity of "as Trustee, and absent any individual capacity". Let them pound dirt!

The deed gives a party ownership to the improvements on the land. The note securing the improvements on the land stays with the note holder. As such, a house can be transferred into trust. The trustee of the trust is the new owner of the improvements; however the surety for the note, if one exists, remains with the secured party.

This is very powerful leverage to a party that might foreclose. The owner of the improvements just might decide to take them for good....ROFLMAO! You can use your imagination on that one!

I hope this helps you, or at the very least someone else here.

With best regards.

[robhalford88]

If we accept that the FRN is NOT consideration as there is nothing of value in it, how can you own anything? No mutual consideration, no contract.

[jcsmjd]

Granted that FRN's are worthless; however, notice on most deeds of trusts the dollar is referenced...or US DOLLARS. Now, if a man/woman puts their hand to that paperwork, then consideration has taken place by direct testimony, albeit out of ignorance, however, apparently dollars were exchanged.

1792 coinage act defines a dollar. A dollar is REAL substance. I have yet to see any deed or deed of trust reference a FRN. Have you?

[robhalford88]

Originally Posted by jcsmjd

Granted that FRN's are worthless; however, notice on most deeds of trusts the dollar is referenced...or US DOLLARS. Now, if a man/woman puts their hand to that paperwork, then consideration has taken place by direct testimony, albeit out of ignorance, however, apparently dollars were exchanged.

1792 coinage act defines a dollar. A dollar is REAL substance. I have yet to see any deed or deed of trust reference a FRN. Have you?

Yeah, that is exactly what I mean. A dollar is merely a measurement of substance, not the note, so how does the FRN measure up?

[palani]

The deed should include a phrase such as 'so & so does grant, bargain and sell '. The land is what is granted. It is never sold. The appurtenances are what are being bargained and sold.

Also, the evidence of substance should be the following phrase 'for one dollar and other valuable consideration'. The one dollar should be present in the transaction as silver. The check, money order, FRN's or 20 mules and 5 head of dairy cows can represent the 'other valuable consideration'.

If selling to a family member the substance phrase might be changed to 'for one dollar, love and affection'.

[jcsmjd]

You might want to state 21 silver troy oz. or some increment of "valuable" gold/silver greater than 20 dollars and other consideration (love and affection, etc..). I am in total agreement. Also, never "purchased" rather "bought". Purchase is for "use". Has the feel of a trust.