Finding old deeds while renovating your home can be intriguing, and it's essential to handle them carefully. Here's a step-by-step guide on what you should do:
Secure the Deeds: Store the old deeds in a safe and dry place. Handle them with care to avoid any damage.
Research the Property History: Try to find any information about the property's history, previous owners, and any notable events associated with it. Local historical societies, libraries, or archives can be valuable resources for this research. You can also check online databases and public records.
Contact a Title Company: Reach out to a reputable title company or a real estate attorney. They are experienced in dealing with property matters and can assist you in determining the legitimacy and historical significance of the deeds.
Title Search: A title search will be conducted by the title company or attorney to trace the property's ownership history. This process involves checking public records to ensure there are no outstanding claims or liens on the property.
Survey the Property: A professional surveyor can help you accurately identify the boundaries of the property. This can be crucial if the old deeds refer to specific measurements or landmarks that are no longer present.
Assessing the Value: The value of the property can be challenging to determine solely from old deeds. Factors such as location, condition, local real estate market trends, and any potential historical significance play a role in evaluating the worth of the property. You may want to consult a local real estate appraiser for a comprehensive appraisal.
Community Records: Check with local government offices or historical preservation authorities to see if they have any additional information about the property or its past owners.
Consult an Expert: If you believe the deeds might have significant historical or cultural value, consider seeking advice from an expert in historical real estate or a curator from a local museum or historical society.
Contact Previous Owners: If you find information about previous owners in the deeds and they are still alive, consider reaching out to them. They might have valuable insights into the property's history or be interested in having the old deeds for sentimental reasons.
Legal Advice: If you discover any conflicting claims or complex legal issues related to the property, consult a real estate attorney to ensure you are following the appropriate legal procedures.
Remember that the value of old deeds may not necessarily be monetary; they can hold historical or sentimental value, making them important artifacts to preserve. Always approach the process cautiously and seek professional advice to ensure you handle the situation appropriately.