Posted by JPiper on January 13, 1999 at 13:28:43:
Executing a warranty deed and recording it effectively transfers ownership. Now whether you did the deed correctly is another question.
If you want to put a new first mortgage on the property at this point, the lender will require title insurance. The title company will check the title, and any problems will come to light at this time.
The purpose of a “closing” is to transfer title and disburse money. This would typically be handled by a title company or an attorney. Doesn’t look like you did this, but the property ownership was transferred nevertheless. So who cares whether we call it a “closing” or not??
The main concern here, and the reason people use title companies and attorneys to begin with, is whether you did this all correctly. You can have a title company check the title to see for a relatively small fee. They will have to do this anyway to write title insurance for the purpose of a new mortgage.