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Owner Of Record Sources

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Greg Parker

Member
Joined
Mar 20, 2005
Professional Status
Certified Residential Appraiser
State
Pennsylvania
When the owner of record does not match what is provided by a seller (new construction), I have often used the title to support if needed. I have a new construction property I am working with where the land holding company is still named as the owner of record. The subdivision of the larger parcel into individual lots is complete, but the holding company is noted as owner of record for all lots in the development in the county.

My client wants their developer as noted on the agreement of sale as the owner of record, I have indicated no on the 1004, added commentary and the information from our local county.

In lieu of a title, they have provided me with the HUD 1 sheet of the sale of the lot from the land holding company to the developer. It has the developer as the grantee, and the seller as the grantor.

Would this work as confirmation as owner of record or should I continue to request title?
 

Howard Klahr

Senior Member
Joined
Oct 4, 2004
Professional Status
Certified General Appraiser
State
Florida
Where is the deed for the hud1 that they provided to you? What does that deed state? Has it been recorded?
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
Just comment and move on. You are not a title company and not responsible for a title search. "Tax records show X company to be the owner. A HUD-1 was provided showing Y as the owner, who is also the seller in the contract. A delay in public record updating is typical and the seller is shown to be Y."
 
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