February property transfers hold steady

Nick McBrideOn the Grow

Surprisingly we went through the first week of February without recording any commercial property sales over $1 million. We did, however, end up recording 272 other property transfers that came to a total of $73.53 million. Lending was busy too with 625 loans recorded totaling $160.93 million.


The lenders with loans over $1 million were:

  • Pinnacle Bank – $1.34 million
  • TN State Bank – $2.5 million
  • Berkadia Commercial Mortgage Co. – $15.23 million

Nick McBride

I usually talk about the two document types which are most common, warranty deeds and trust deeds. On the back end of each trust deed though, once a mortgage has been satisfied, we record the corresponding release. The lender may send a copy of the release to the borrower but is not required to do so. These are much simpler documents, but they keep us busy — last month 2,752 releases were recorded. That is less than 10% of the greater than 30,000 that were registered throughout 2020. Give us a call at 865-215-2330 to obtain copies of any of your documents pertaining to real property.

Sometimes I highlight the new neighborhoods being built in the article. Many neighborhoods have homeowners’ associations (HOAs), but you may not know that the HOA’s declaration of covenants, conditions, and restrictions (CC&Rs), amendments to CC&Rs, bylaws, lien notices, plats and maps are also recorded in our office.

Do you need a speaker for a meeting? I’m available and would be glad to come to your HOA meetings, civic clubs, or other groups to talk about what happens in the Register’s office and answer any questions the group may have. Just call me at 865-215-4322, and we will get it set up.

Have a Great Week!

Please note: In observance of President’s Day, our office will be closed next Monday, Feb. 15. We will reopen at 8 a.m. on Tuesday.

Nick McBride is register of deeds for Knox County.

 

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