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Common Title Issues When Purchasing Real Estate

Common Title Issues When Purchasing Real Estate

The title is what ensures that you actually own the real estate that you purchase. Before the deal closes, you must ensure that the title is completely valid. Otherwise, you may not be getting the full benefit of the bargain.

Easements

One common issue is an unknown easement on the property. An easement allows someone else to use part or all of the land for a certain purpose. When there is an easement, you have to share use of the land. Someone else may have access to the property.

Undiscovered Encumbrances

Someone else may hold a lien on the property. There could be a third party, such as a bank or the government, that was not paid what they were owed. The lien attaches to the property itself, as opposed to the prior owner, so it follows when you buy the real estate.

Clerical Errors

There may have been a paperwork problem in filing a deed that causes you legal uncertainty. Even if it can be resolved, it will cost you time, money, and stress. Dealing with the bureaucracy can be time-consuming, with no assurance of success.

Boundary Disputes

The prior owner and a neighbor could have an ongoing dispute about the boundaries of the property. Someone else may claim part of your property, and you may not get everything that you bought.

It is always better to have a real estate attorney check for these issues before you complete the transaction because you may not be able to do anything about it after the deal closes.

Call a Boca Raton Real Estate Attorney

The attorneys at Rubino Findley work with real estate purchasers to protect them during the course of a transaction. Call us today at 561.220.0741 or message us online to get our lawyers working for you.

 

 

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