California Partition Law Blog
In California, title is determinative in some instances. This means that a court’s characterization of property in a marital dissolution proceeding determines the division of the property between spouses. How a property is titled may also affect the property’s protection from creditors, taxes, and the probate process. Understanding how and when title is determinative is important because married individuals may hold title in various forms affecting their interests in dissolutions.
What is a Property Title?
A title is not a physical document given to individuals who acquire interest in property. Instead, a property title is a legal concept made up of various documents, like deeds and surveys, that represent various rights inherent in the ownership of real property. It is important to distinguish the difference between a Title and a Deed. Title refers to the concept of legal ownership of property. Oppositely, a deed is the physical document that transfers legal ownership of the property. In short, deeds help establish title.
The purpose of this article is to explain the term “color of title.” This is an important concept in real property disputes because it means some has apparent title to property based on a written instrument, but that title is actually defective.
The Marketable Record Title act provides a statutory time limit to eliminate certain liens. Specifically, the purpose is to enhance the marketability of property by fixing an expiration date for certain interests, which are generally ancient mortgages, deeds of trust, unexercised options, powers of termination, unperformed contracts for the sale of real property, dormant mineral intersts, and abandoned easements, while also providing a procedure for allowing the interests to be preserved. In other words, the Act helps to simplify and facilitate real property transactions. In this blog, we’ll delve into what the Marketable Record Title Act entails, its significance, and how it impacts property owners.
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