February transfers outpacing 2020

Nick McBrideOn the Grow

As we enter the second week of February 2021, it is my hope that we will continue to see some return to normalcy.


Comparing this week in 2021 to 2020, we recorded more documents in 2021, which means people have learned to adjust to the new norms. In 2020 we recorded 168 warranty deeds and 336 trust deeds. The same week in 2021 we recorded 186 warranty deeds and 511 trust deeds.

Nick McBride

The total value of the property sales this week was $52.56 million. Commercial property sales over a million dollars have slowed down quite a bit over the past couple of weeks. We only recorded one sale over a million this week. D.R. Horton Inc. purchased the 28 lots of its upcoming Denali subdivision, which is off Ball Camp Pike on Hitching Post Drive. They purchased the property from Mesana Investments LLC for $1.67 million. There may not have been many sales over a million dollars, but banks were still lending millions in new loans. In fact, we recorded $116.57 million in loans with the top million-dollar lenders being:

  • United Community Bank – $1.11 million
  • Mountain Commerce Bank – $1.27 million
  • Peoples Bank of the South – $1.5 million
  • Pinnacle Bank – $3.65 million
  • Home Federal Bank of TN – $4 million

In case you’ve never been to our office to record a deed, or have wondered what our process is, I thought I’d offer a brief explanation.

For accurate record keeping a document goes through a three-step process once it arrives at the office. We have a front-line group of recording clerks who serve the public in person and file the many deeds that come in through the mail or by courier, sometimes hundreds in a day. Recently we implemented an e-filing program and these documents also go through the same three-step process.

The recording clerks record basic information, and the instrument number is created. The documents are then scanned into our system and are picked up by the data entry department. More information is taken from the deed, for example the map coordinates, additional names on the documents, and recording specifics of the property. The final step is quality assurance. Each file is checked again for accuracy, and then it is considered recorded. We return all originals.

The information regarding ownership of property is then shared with the Knox County property assessor’s office. These records are considered public information.

The staff is a dedicated and knowledgeable group of people. We have a great team and I feel lucky to have worked with most of them for a very long time!

Have a good week and stay safe!

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Nick McBride is register of deeds for Knox County.

 

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