I paid in full for a condo in Cook County, IL. My lawyer tells me the original deed must be lost in the mail. He says a copy is OK for proof of ownership, is this correct? Should any action be taken as far as the original out there?
Answer
Why would you not trust your attorney on this? A deed is not proof of ownership. Assuming the deed was recorded, the original is essentially useless. You should get a title insurance policy at some point.
Answer
People find it hard to believe that without a piece of paper in their hands something is amiss....When did you close on it? Years ago the recorder would take a "photo" of the deed and put it on what was called "microfiche" which is like a slide you could view and obtain certified copies of, but you had to go to the recorder's office into the basement of the County building and it was nasty. Today when deeds are recorded they are scanned in electronically (at least in Cook County) and shortly after recording it is posted to the recorder's website in all its glory; you can see the document number, grantor, grantee, type of document it is, and for a small charge obtain a copy of the full document from the recorder's website (www.ccrd.info/). All you have to know is the "PIN" (Property Tax ID #) for the unit. You can also see the unit's history. But if you closed recently, it may not be posted AND, if there was a prior mortgage on the unit it may not have been released yet only because of lagtime in paperwork so don't be alarmed. Again, you should have received a title insurance policy at closing or it should come to you shortly (directly from the title company or from your attorney to whom it may be mailed first for final review before sending it to you).
Answer
Steve has provided you with an excellent answer. See what is on the website. If it has been recorded, you should be able to sleep tonight. You do not need to have the original deed.
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