Purchasing a new home is an exciting journey, but it’s essential to be aware of potential title issues that can arise during the process. A property’s title denotes its legal ownership rights, and any discrepancies can hinder the smooth transfer of the property from the seller to the buyer. Let’s delve into some common title issues and how they can be resolved.
1. Public Record Errors
Sometimes, there can be mistakes in the property’s deed, such as clerical errors or missing information. These need to be rectified before the property can be sold. It’s always a good idea to double-check public records or seek professional services to ensure everything is in order.
2. Liens
If a seller has unpaid debts or taxes, a lien can be placed on the property. This legal claim of ownership on the title by the owed entity can only be removed once the debt is settled. To avoid such complications, always ensure a clear financial record before making a purchase.
3. Unclear Boundaries
Property boundaries must be well-defined to prevent disputes. Issues like encroachments on neighboring land or parts of the property situated on public land can arise if boundaries are unclear. Learn more about how we handle such issues.
4. Illegal Deeds, Forgery, and Fraud
A property’s history can sometimes reveal that a previous owner’s title was documented illegally, or there might be cases of forgery or fraud related to the property’s ownership. Always ensure the legitimacy of the documents before making a purchase.
5. Unknown or Missing Heirs
Disputes can emerge if a property owner dies without selling the home, leading to potential claims from missing family members or issues with the owner’s will. It’s crucial to have a clear understanding of the property’s history.
Navigating Through Title Issues with Professionals – At Eastern Title & Settlement, we understand the intricacies of property titles. Our team of experts is here to guide you through the process, ensuring a smooth and hassle-free experience.
Why Title Insurance is a Must – Title insurance offers protection against any undiscovered issues. While lenders might have their protection, it’s essential for buyers to consider purchasing a separate owner’s title insurance policy for their peace of mind. Discover more about our range of services.
In Conclusion, Purchasing a home is a significant investment, and it’s crucial to conduct thorough research and due diligence to avoid any title surprises. With the right guidance and expertise, you can navigate through the process with confidence.
Ready to embark on your home-buying journey with the best in the business? Get in touch with us today!
