Just prior to a recent closing, the soon-to-be homeowner asked me, "What proves I own this house?" Good question, that I answered this way...
In Georgia, at closing the transfer of title/deed is signed over to you by the seller. Because you have a mortgage, the title/deed is held by the lender.
Within 30 days after closing you should receive a copy of the warranty deed. The warranty deed is a guarantee made by the seller that the title is clear and they have authority to sell the property. Keep your copy of the warranty deed in a safe place.
I also recommended that 60 days after closing the buyer should check the county courthouse records to make sure the title has been recorded in their name. Many offices now provide the ability to perform this check online.
As a failsafe in-case the buyer defaults on the loan, the bank holds a security deed that transfers title to the lender until the note is fully paid. Once paid-in-full, the bank releases the title to the homeowner. At this stage, the buyer is truly a "Home Owner".
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