This is not the case in states where a mortgage is simply a lien on the property. You receive a warranty deed, which includes a title search, and you own the pr

This is not the case in states where a mortgage is simply a lien on the property. You receive a warranty deed, which includes a title search, and you own the property (fee simple in legal parlance). If you have a mortgage on the property, the mortgage company has a lien that can be foreclosed. In title theory states, when you mortgage the property, the mortgagee holds title until the mortgage is paid off.