The term title refers to a document that lists the legal owner of a piece of property. Titles can be issued to depict ownership of both personal and real property. Personal property is anything that doesn't include real estate such as appliances, antiques, or artwork. Real property, on the other hand, is anything tangible like real estate. Title for real property must be transferred when the asset is sold and must be cleared for transfer to take place. This means it must be free of liens or encumbrances that could pose as a threat to its ownership.

Sometimes we need a little extra help now and again, even when it comes to buying a home. In this weeks article we go over what is legally allowed, and the rules behind accepting a “Gift” of funds for the purchase of a home.