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Florida is a lien theory state. You are the title holder of any property you purchase and your deed must be recorded in the land records. If you borrow money to purchase the property you must sign a note and mortgage. The lender will record the mortgage and it will become a lien on the property. If you default on the mortgage the lender may foreclose through a court action and have the property sold by the court.
Wiki User
∙ 15y ago
Wiki User
∙ 13y agoFlorida is a lien theory state, so buyer and not the mortgagee (mortgage holder) keeps the title.
Wiki User
∙ 13y agoGeorgia is a title theory state. The title of the mortgaged premises remains in the lender until the debt is paid.
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Is Florida a title theory state?
a lien state
Is Maryland a lien theory state or a title theory state?
Lien theory state.
Is Oklahoma a lien theory state?
Oklahoma is a title theory state, not a lien theory state.
Is Illinois a lien or a title theory state?
Indiana is a lien theory state.Indiana is a lien theory state.Indiana is a lien theory state.Indiana is a lien theory state.
What states are title-theory states real estate?
See the related link for a US Title-Lien Theory state map.See the related link for a US Title-Lien Theory state map.See the related link for a US Title-Lien Theory state map.See the related link for a US Title-Lien Theory state map.
Is Virginia a lien theory state?
Virginia is a title theory state.Virginia is a title theory state.Virginia is a title theory state.Virginia is a title theory state.
Is Maryland a lien theory state?
No, it's a title theory state.
Is Texas a title theory state?
NO. Texas is a Lien Theory State.
Is New York a lien theory state or title theory state?
Illinois is a lien theory state.Illinois is a lien theory state.Illinois is a lien theory state.Illinois is a lien theory state.
Is Nevada a title theory state or a lien theory state?
Nevada is a lien theory state. In "title theory" states, actual "legal title" to the property temporarily passes to a trustee to secure the debt. The borrower (grantor), retains possession rights and "equitable title" and has full use of the property for the mortgage term. When the loan is paid off, legal title is restored without the necessity of a reconveyance. In "lien theory" states, the lender (mortgagee) places a "lien" on the mortgaged real property while the borrower retains both "equitable" and "legal" title.
Is Ohio a title theory state?
Ohio is a Lien Theory State - see title.grabois.com
Is Louisiana a title holding state?
Louisiana is a Lien Theory state
