Deed and title are often used interchangeably, but they are not the same thing. One is an actual document. The other is the rights given by the document. Here’s the difference between deed vs title to clear up the confusion and misunderstandings.
A deed is an actual document that conveys ownership of real property. It is the document used to transfer ownership of real property such as a house from one party to another. It is evidence of a title.
A title is the legal ownership of a property and the rights conveyed in the deed. It is not a document. It is the concept of the bundle of rights acquired by having a deed.
When a home is sold the owners on the deed are updated with the name of the buyers and the name of the sellers are removed. This update is typically done by the title company handling the sale of the home. Depending on the number of deeds that need to be updated it can take a few days to a few months for the deed to be updated.
Title companies are almost always part of the home buying process. As the name states, title companies ensure all processes are followed to ensure a smooth transition of title from the seller to the buyer by sending the change of deed information to the county.