A formal record of a property transaction, documented and archived within a designated registry, serves as public and verifiable proof of ownership or other legal interest in real estate. For example, a change in ownership, a mortgage, or a lien against the property would be documented in this manner. This documentation is linked to a specific parcel of land and accessible through official channels.
This system offers transparency and security in real estate dealings. It protects buyers by providing a clear history of a property’s ownership and any encumbrances, mitigating the risk of fraud or unforeseen legal challenges. Historically, such systems emerged to replace informal and often unreliable methods of transferring property, fostering greater trust and stability in land ownership. This established record allows individuals and entities to conduct due diligence and make informed decisions concerning real estate investments and transactions.
