[Banjoguy]

But, in reality, we don’t own our homes, until the respective ‘mortgages’ are paid off.

Paid off or not, Just try not paying your property tax. The taxing bodies have a perpetual lien on your house and land. If not paid they will take your house and land. There is no home "ownership" as such in this country. It is a rental from the local taxing authority. Home ownership is an American illusion.

[dfwgator]

What you “own” is the deed, which allows you to sell the house.

[adorno]

The taxing bodies have a perpetual lien on your house and land.

They also have a 'perpetual lien' on your salary, if you have a job and earn enough to have to pay taxes. Likewise for any other property and assets which are taxable.