Chapter 1
Brokerage Operations and Management
Course: Alaska Real Estate Exam Prep
Subject: National Real Estate Broker Exams Prep
Chapter: Title Deeds And Closing Procedures
Title and Ownership Transfer
Title refers to the legal evidence of ownership rights in real property. It is not the physical deed itself; it is the legal concept showing that a person or entity has ownership interest in the property. A deed is the written instrument used to transfer title, but title is the ownership right being transferred.
Ownership transfer in real estate requires more than a buyer and seller agreeing on price. The transaction must establish that the seller has transferable ownership, that the deed is valid, that title defects are addressed, that liens are handled, that required documents are executed, and that the transfer is recorded properly. Title issues directly affect marketability, financing, closing, possession, and future ownership rights.