The journey to closing day isn’t always smooth. Title problems can arise, creating delays or even jeopardizing the transaction. Here are 10 common title issues and how a trusted title company can resolve them.
Common Real Estate Title Issues
- Unpaid Taxes: Previous owners’ unpaid property taxes must be settled before closing. A title search reveals these issues, and the seller typically pays them.
- Liens: From contractor bills to unpaid loans, liens can be attached to the property. Clearing them involves negotiations and payment arrangements.
- Boundary Disputes: Conflicting surveys or unclear property lines can lead to disputes. A new survey often resolves the issue.
- Forgery or Fraud: False deeds or documents can cloud the title. Title insurance protects against these risks, and you may need to take legal action to clear them.
- Missing Heirs: Claims from undisclosed heirs can complicate ownership. Proper legal documentation and title insurance address these concerns.
- Illegal Deeds: Past errors, like sales involving minors or those without legal authority, can invalidate ownership. A title company resolves these issues.
- Easements: Existing rights of way or utility access can limit property use. Understanding and accepting these terms is part of the process.
- Zoning Restrictions: Violations of zoning laws can delay transactions. Consulting with local authorities or resolving violations is necessary.
- Unknown Encumbrances: Hidden claims from prior lenders or agreements may surface. Title searches uncover these and provide solutions.
- Clerical Errors: Mistakes in public records can lead to headaches. Title companies work to correct these errors quickly.
At Simply Close Title, we’re professionals at identifying and resolving title problems. Don’t let these issues derail your transaction.
Contact us today to learn how we ensure a clear path to closing!
