Deeds and Mortgages
Deeds are written legal documents used to transfer or assign an interest or rights over real property. There are two broad categories of deeds: -
- Deeds that assign or modify ownership of property come in many forms such as warranty deeds, quitclaims, and grand deeds;
- Deeds that document a financial interest in a property (lien) such as mortgage deeds and trust deeds.
|ATTOM ID|| 145695081
|Transaction||745155600 - Grant Deed|
|Grantor||KAUFMAN & BROAD NEVADA INC|
|Grantee||Homer Simpson||Marge Simpson|
|Lender||KAUFMAN & BROAD MORTGAGE CO|
|Transaction||138705265 - Mortgage|
|Grantee||Homer Simpson||Marge Simpson|
|Lender||WASHINGTON MUTUAL FSB|
An example of property refinance
Deeds are an important source of information to understand how the ownership of a property is formulated and the extent to which claims exist that are secured in the property. This information is vital to anyone considering purchasing, insuring, or financing a property. It can also be used to identify potential markets for a range of financial services.
Responsibility for recording deeds rests with a county recorder's office, or similar. These "county recorders" are required to make this information available to the general public free of charge by visiting the relevant office and conducting a search. ATTOM has access to this data in an electronic form making it available as part of ATTOM Cloud.
The following tables can be used to access Deeds' information.
Details of each deed transaction that has been recorded in any county recorder's office.
Rows: 550 million
The following dimension tables are relevant to Deed, providing lookups for various codes contained in the RETransaction table.
DimCounty: Description of each county and the geographic groupings to which it belongs - eg. State, CBSA, CSA.
DimDetailedDocumentType: Type of deed document referenced by transaction - e.g. Grant Deed, Executors Deed, Gift Deed
DimDocumentType: Basic category of the document referenced by the transaction - e.g. Deed, Mortgage, Assignment
DimFinancialCompany: Provides the name, line of business, and parent company for companies such as lenders.
DimJurisdiction: Details about the jurisdiction recording the deed over and above counties, which are not always the jurisdiction
DimLendorType: Type of financial institution providing the secured loan - e.g. Bank, Credit Union, Mortgage Company
DimLoanARMIndex: Where the type of loan is an ARM, the type of ARM being used - e.g. MTA - 12 Month, Prime Rate
DimLoanRateChange: Where the loan contains an adjustable component, a description of the component - e.g. Rate starts as fixed and converts to adjustable
DimLoanRateChangeFrequency: Where the loan contains an adjustable component, a description of the frequency with which the rate changes - e.g. Two Years, Annually
DimLoanRateType: Type of loan rate used - e.g. Adjustable Rate, Fixed Rate
DimLoanType: Type of loan - e.g. Line of Credit, Conventional, FHA
DimMortgageTerm: Unit of time used to define the length of mortgage - e.g. Month, Year
DimMultiAPN: Scenarios in which multiple APNs are contained in the transaction - e.g. Multiple Parcels Conveyed and APN Merged, Single Parcel Divided Into 2 or More Parcels
DimPartyRelationship: Relationship between the parties purchasing or selling the properties - e.g. Agent or Guardian, Domestic Partner
DimTitleCompany: The title company used - e.g. Alliance Title Insurance, Equity Title Company
Understanding the Data
One of the biggest challenges working with property data is accurately identifying the property referenced. This is especially true when dealing with public record information provided from 3,000+ county recorder offices. ATTOM simplifies this process by assigning a permanent, unique identifier to each property transaction known as the ATTOM ID. All transactions recorded against the same property can be identified by using the ATTOM ID assigned to these transactions.
ATTOM assigns a unique sequential number to each transaction making it easier to relocate the same document.
Each County Recorder will usually assign its own document identification number to the transaction. This can usually be used in conjunction with the SourceJurisdicationKey to identify a transaction where both these items are known.
Used to identify the type of transaction and important meta-data such as the date and where the original documents are filed
Legal descriptions of the property
Details about as many as four grantors and four grantees are recorded to represent any change in ownership. because there is no legal limit to the number of owners of a property, an etalFlag is used to denote those cases where there are five or more grantors and/or grantees.
If the property transaction involves a mortgage then information specific to the mortgage is provided.
Product Articles (P-Articles)
All solution packs containing the Deed data element will include the following p-articles to help you understand and use the data: -
- Deeds 101