Most counties and townships throughout the state of New Jersey deal with questions of title and deed in the same way. One town in Monmouth County requires that any properties that are purchased call for what is described as a leasehold deed.

Ocean Grove is an area owned by the Camp Meeting Association.

Homes are bought and sold using what is described as a leasehold deed.

Such a legal instrument provides an individual with the functionality and their rights that are associated with the actual ownership of the land but is not the actual ownership of the property. That property belongs to the Camp Meeting Association and it is leased to the individual occupying the house on that property.

In the case of Ocean Grove, these leaseholds are issued on 99-year leases. Such leasehold can be passed down to the individuals heirs.

These leasehold deeds permit the Ocean Grove Camp Meeting Association to collect ground rent. In the case of Ocean Grove, such ground rent is typically $10 per year.

Such leasehold Deeds or ground leases for residential properties are extremely unique and unusual.

The Ocean Grove Camp Meeting Association does not collect property taxes for such properties, but rather that property tax is assessed and collected by Neptune Township.

This brings about the need for a clear understanding on the difference between a title and a deed. Titles are different from Deeds.

The title for property is the specific and legal term given to identifying an individual as having the right to something. In most cases, title indicates that you have the legal right to the use of that property.

A title may give the individual access to the land but also the potential ability to modify it as seen fit. The title also indicates that the title holder can transfer their interest or portion of that property to others.

Deeds, on the other hand, are different. The deed is actually the legal document that transfers the title from one individual to another individual. One of the requirements for a Deed is that it must be a written document.

In the case of a deed, all Deeds must be recorded in the courthouse or the assessor’s office in order to make them fully binding in the states that they are in.

In the event that a deed has not been filed with the assessor or courthouse in that county or district, that deed is determined to be not perfected.

This article contains general information and does not contain legal advice. Counsellors Title is not a law firm or a substitute for an attorney or a law firm. Any matter dealing with the law or issues of the law require the attention of professional legal advice coming from an attorney. Please consult with your own attorney with respect to matters of title, deed, transfer a property of property purchases.