A registered owner is the natural person who appears in public records as the owner of an asset, such as real estate or a mortgage.
A registered owner is the person who is listed on public records as the owner of an asset, such as real estate, a mortgage, or stocks and bonds. Several different names are used to designate the owner of the record, some of them specifically related to a specific type of property. For example, a person who owns shares may be called a registered shareholder or registered shareholder.
The owner of record retains all rights to use any assets held in his or her name. In the case of real estate, the owner can make improvements to the property, or even sell the property, if they so choose. As long as the owner has full control over the property, there is no need to seek permission from third parties, as long as the activities comply with the norms and standards established by the local community.
The same is true when it comes to other assets, such as stocks. A registered owner can take steps to sell the shares held by him or hold them for the long term. Assuming the owner is a registered holder, the investor generally can also participate in any voting stock involving investors holding that particular type of stock. A registered holder also receives dividend payments, as well as any other distributions involving those shares.
Along with rights and privileges, the owner of the record also has responsibilities related to the assets they own. With real estate, there is usually a requirement to pay property taxes to local jurisdictions, and these taxes must be paid annually or semi-annually. Many jurisdictions today also require owners to maintain insurance on the property and any structures on the site. Failure to pay taxes can lead to situations where the local jurisdiction seizes the property as a way to pay off the tax debt. Also, failure to maintain home insurance could lead to an increase in these taxes or possibly some type of fine.
The land registry holder may also be required to maintain the land in a manner that meets standards set by the local jurisdiction. Failure to comply with this recommendation may result in fines and other types of lawsuits, which may include confiscation of property. For example, if the owner of a vacant lot located in a residential section of a city is unable to keep the land removed and cut, the city may have the right to clean up the property and charge the owner of record for the cleanup. If the landlord fails to pay the bill, the city may impose additional fines or possibly take action to seize the property until the landlord fully compensates the city for the work and fines accrued.