Possible Title Defects or Issues
When you buy property, you obtain title to the property. If the title has any defects or issues, it can lead to unexpected costs or disruptions with your property ownership. You always want to have an Encino real estate attorney conduct a thorough title search before closing on a real estate transaction.
Some common title issues that will need to be addressed before you close on a property purchase.
Liens – If the seller has judgments against them, a creditor might have placed a lien on the property. This means the debt has to be paid before the lien can be cleared. Even if this is not your debt, the lien can transfer with title if you do not require the seller to take care of the lien before closing.
Boundary questions – Neighbors often do not know the exact property line, but they might simply agree to accept an informal property division. However, if surveys show a different property boundary, it can lead to a dispute between neighbors. You want to make sure you have a clear agreement on boundaries before you gain title to property.
Filing errors – When title is filed as a public record, there can be errors that affect the property deed. Rectifying any mistakes can be costly, so you want to clear up any filing errors before you gain ownership.
Transfers through probate – When a property passes away, they might have a will that leaves the property to a beneficiary, or the property might pass to an heir under California intestate laws. You need to make sure that inheritance is not an issue with the property you are purchasing.
Encumbrances – Some titles transfer with easements or other encumbrances that might limit your land use or ownership. Always make sure you are aware of any easements and ensure you agree to them before you close.
Seek Help from an Encino Real Estate Attorney
An Encino real estate lawyer from Urbach Law Offices, PC can conduct a title search and assist with the real estate process or find title defects. Contact us for more information.