Title Problems New Homeowners Can Run IntoTitle problems have a tendency of showing up during the title search and after the closing. This is the time that most homeowners would hope that their title insurance policy would help them in solving some of the problems they have. And subject to the policy terms, you can use your title insurance to get protection from the problems that might come to light after you have sealed the deal. It is very important to avoid the problems connected with the title before the closing. You can only understand the title problems if you have any idea of what a title may mean. The title, in simple terms, is evidence that shows that an owner is in full and lawful possession of a particular piece of property or real estate. Owning a deed to a property means owning the property.

Here are four undiscovered title problems that can cause new homeowners a difficult time.

Errors in Public Records

It is usually said that to err is human, but these mistakes can be very devastating when they particularly affect the rights of home ownership. Errors to do with filling or clerical could greatly affect the survey of the deed of your property and in turn, bring undue financial strain in a bid to fix them.

Illegal Deeds

Despite the fact that the chain of title on your property may look right, there are chances that a prior deed might have been done by either a minor, undocumented immigrant or an individual of unsound mind. Possibly, it could also have been made by a person who is reported to be single but is actually married in the real sense. Any of such situations may interfere with the enforceability of the previous deeds, and in turn, affects both the prior and present ownership.

Undiscovered Encumbrances

When it comes to taking an ownership of a particular home, three can be mostly referred to as a crowd. When buying the house, it could be unclear to you that another person may posses the claim to either a proportion or all of your property. This may occur as a result of a previous lien or mortgage, or other claims that are not financially related such as covenants or restrictions that places certain barriers to how the property should be used.

Undiscovered Wills

When the owner of a property passes on without a clearly prepared will or heir, the state may be forced to sell their assets. This may even include the home they have been living in. When you go ahead and buy such property, you immediately assume the rights of owning it, and therefore it becomes yours legally. However, an unexpected may happen even years later after you had taken up ownership of the house. When, for instance, the will of the deceased owner of the house comes to light, your rights to own the property may be in a stake.

These and most of other issues that are not covered in this article are mostly taken care of by the owner’s policy of the title insurance. When you purchase a home, your immediate responsibility should be to use a title insurance to protect that particular investment. To learn more, get in touch with us!

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