Of Record

The term 'of record' refers to the official recording of documents such as deeds or mortgages with the appropriate entity, as well as testimony recorded as the official transcript of a legal case. The 'attorney of record' is the officially designated lawyer for a party upon whom legal papers may be served.

Definition

Of Record:

The term “of record” is utilized primarily in legal and real estate contexts to denote the formal recording or documentation of certain instruments, such as deeds, mortgages, and other legal documents, with the appropriate governmental or legal entity. It also refers to testimonial evidence that has been officially transcribed during legal proceedings.

The Attorney of Record refers to the officially designated legal representative of a party in a case, upon whom all legal documents and correspondence should be served.

Examples

  1. Real Estate Transactions:

    • When a home is sold, the deed must be recorded with the county recorder’s office to make it ‘of record’. This ensures the public is informed about the ownership status of the property.
  2. Mortgage Agreements:

    • A mortgage must be officially recorded to provide public notice of the lien on the property, securing the loan amount against the real estate.
  3. Legal Proceedings:

    • Testimonies given in a court case are transcribed and become ‘of record,’ forming the official legal transcript used in the trial and for any potential appeals.
  4. Attorney of Record:

    • When a lawyer submits a Notice of Appearance for a client in court, they become the ‘attorney of record,’ responsible for receiving all legal documents and representing the client in legal matters.

Frequently Asked Questions (FAQs)

1. Why is it essential to have a document ‘of record’ in real estate?

  • Having a document ‘of record’ ensures public acknowledgment of transactions like property sales, providing legal clarity and reducing potential disputes regarding ownership.

2. Who is responsible for recording deeds and mortgages?

  • Typically, the county recorder’s office or a similar governmental agency is responsible for recording these documents.

3. What is the significance of the attorney of record in a legal case?

  • The attorney of record is vital as they are the point of contact for all legal documents and communications related to a case, ensuring proper legal representation and adherence to procedural laws.

4. Can recorded documents be accessed by the public?

  • Yes, recorded documents are usually public records and can be accessed by anyone interested in the details of a transaction or legal proceeding.

1. Deed:

  • An official legal document that transfers ownership of property from one person or entity to another.

2. Mortgage:

  • A legal agreement where a financial institution lends money at interest in exchange for taking the title of the debtor’s property, with the condition that the title is returned upon repayment of the debt.

3. Transcript:

  • An official written copy of spoken words from a legal proceeding.

4. Notice of Appearance:

  • A document filed with the court by an attorney indicating that they represent a client in a legal matter.

Online Resources

  1. Investopedia: Legal Concepts
  2. Wikipedia: Real Property
  3. NOLO: Legal Encyclopedia
  4. American Bar Association: Legal Resources

Suggested Books for Further Studies

  1. “Real Estate Law” by Marianne M. Jennings

    • Comprehensive guide exploring various facets of real estate law.
  2. “Principles of Real Estate Practice” by Stephen Mettling and David Cusic

    • Detailed book on the principles and practices involved in real estate transactions.
  3. “Black’s Law Dictionary” by Bryan A. Garner

    • An extensive legal dictionary with definitions and explanations of various legal terms.
  4. “Modern Real Estate Practice” by Fillmore W. Galaty, Wellington J. Allaway, and Robert C. Kyle

    • A modern take on real estate practice covering current laws and practices in the industry.

### What is primarily signified by a deed being 'of record'? - [x] The legal recognition and public acknowledgment of property ownership. - [ ] The completion of a property's physical maintenance. - [ ] Approval of architectural designs. - [ ] Public valuation of the property. > **Explanation:** When a deed is 'of record,' it signifies that the official legal recognition and public acknowledgment of property ownership details have been duly recorded with the appropriate government office. ### Who typically becomes the 'attorney of record' in a legal case? - [ ] Any lawyer attending the trial. - [ ] The judge presiding over the case. - [x] The officially designated lawyer representing a party. - [ ] Court clerk. > **Explanation:** The 'attorney of record' is the lawyer officially designated to represent a party in a legal case and is responsible for receiving and handling all legal documents. ### Which governmental entity is usually responsible for recording deeds and mortgages? - [x] County recorder's office. - [ ] Local police station. - [ ] National library. - [ ] State tax office. > **Explanation:** The county recorder's office, or a similar governmental agency, is typically responsible for the official recording of deeds and mortgages. ### What is the role of a mortgage 'of record'? - [x] To provide public notice of the lien on the property. - [ ] To embellish the property aesthetically. - [ ] To increase property taxes. - [ ] To ensure quick resale. > **Explanation:** A mortgage 'of record' provides public notice of the lien on the property, aligning with financial legal requirements and informing potential purchasers or interested parties. ### Why do legal proceedings require transcripts to be 'of record'? - [x] To maintain an official and accurate record of the proceeding. - [ ] To enhance the fame of the lawyers involved. - [ ] To ensure free public access. - [ ] To support sustainable paper industries. > **Explanation:** Legal proceedings require transcripts to be 'of record' to maintain an authentic and official documentation of what transpired, allowing for proper legal referencing and use in appeals. ### What legal instrument is vital for officially transferring property ownership? - [ ] Title insurance policy. - [x] Deed. - [ ] Home appraisal. - [ ] Property tax statement. > **Explanation:** A deed is the critical legal instrument for formally transferring property ownership from one party to another. ### What does it mean for an attorney to file a 'Notice of Appearance'? - [ ] They are applying for a job. - [x] They are officially informing the court of their representation. - [ ] They are contesting the court's authority. - [ ] They are leaving the case. > **Explanation:** Filing a 'Notice of Appearance' means the attorney is officially informing the court of their involvement and representation in the case and becomes the 'attorney of record.' ### Can the public generally access 'of record' documents like deeds and mortgages? - [x] Yes, these documents are public records. - [ ] No, they are private and confidential. - [ ] Only government officials have access. - [ ] Employees of the property owner have access. > **Explanation:** 'Of record' documents, such as deeds and mortgages, are public records that can generally be accessed by any interested party. ### What is a common purpose for recording legal documents? - [x] To provide legal clarity and public notice of transactions. - [ ] To avoid property ownership disputes. - [ ] To publicize private arrangements. - [x] Both to provide legal clarity and avoid disputes. > **Explanation:** Recording legal documents serves the dual purpose of providing legal clarity and public notice of transactions, as well as avoiding potential ownership disputes. ### What is meant by 'testimony of record' in a legal case? - [ ] Testimony given only to the media. - [x] Testimony recorded as an official transcript during proceedings. - [ ] Informal discussions between parties. - [ ] Witness summaries published online. > **Explanation:** 'Testimony of record' refers to the testimony given during legal proceedings that is transcribed and maintained as the official record for the case.

Thank you for your exploration of the term ‘of record’ and for engaging with our quiz to deepen your understanding of pertinent legal and real estate concepts. Keep fostering your knowledge!


Wednesday, August 7, 2024

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.