Expert: Karyn Foley - 3/29/2005

Question
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Followup To
Question -
why are the details of real estate transactions considered public information, as evidenced by being reported in newspapers?
Answer -
Dear Joe:  Real estate transactions and the documents pertaining to price, loans, et cetera are contractural documents and recorded officially, usually at a county office.  Once something is recorded, it becomes a matter of public record that can be published in newspapers or even made available to a member of the public who goes to the offices and requests that information.  In some situations, private information can be requested and sometimes obtained.  This may be regulated by the city or county where such information is recorded.  Call your local department of real estate or the state department of real estate to see if this could be possible for you, and, if so, what has to be done to make it private.  Laws sometimes change on this issue from time to time, and may also be subject to the board of real estate in the area where you live.  Make certain that you find out if privacy is mandated by law, or through a matter of common use or custom.  If this becomes a problem for you to check, call up a real estate agent who specializes in your neighborhood and ask those questions.  If you are in a special situation, you may then decided to go further and ask a real estate attorney to be of assistance.  Please be aware that law suits, divorces, business issues, notices of foreclosure, bankrupty and so forth also become matters of public records.KARYN FOLEY...but why isn't this really an invasion of privacy, or different than any other private transaction?

Answer
Dear Joe:  Documents pertaining to the real estate transactions, such as grant deeds, interspousal deeds, deeds of trusts, mortgages, are recorded, usually through a county recorder.  And as such, they become a matter of public record.  Usually people can extrapolate through these documents including tax deeds, who are the parties involved, price paid and some other details.  What is not public are the details of the transactions, such as disclosure documents, the actual contracts, and other items of the day to day workings of a sale that involves the real estate brokers; these are private records.  If you have any more questions, I suggest that you contact the county recorder in your area, or, if you are planning on embarking on a transaction of your own that you feel would invade your privacy, contact a real estate attorney.  As real estate brokers, we are not allowed to give legal advice.  Hope this helps more than before.  KARYN FOLEY