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How Do You Resolve Title Issues? – The Definitive South Florida Guide

19 Oct 2020

How Do You Resolve Title Issues? – The Definitive South Florida Guide. In real estate jargon, “title” is a word that appears often. As the title is what gives the legal ownership of a property for a person or a group, it is a vital aspect.

 

When buying a property in South Florida, buyers need to anticipate potential issues regarding the title. It can be made by seeking professional help to do a title search.

 

A title search is a detailed process where the property’s history is examined in detail. It serves to find potential issues that may arise in the future, solving it before the closing procedure.

 

This measure is essential, given that insurance companies and mortgage lenders require a thorough examination of the property’s title. Once the examiner finds any title issue with the property, the deal will be automatically canceled.

 

To avoid such situations, we are here to guide and instruct you on how to resolve title issues in South Florida before the closing.

 

What Type Of Title Issues May Appear Throughout The Process?

Commonly, title insurance companies proceed by conducting a title search before approving the dependent. As the title search is concluded, they issue title reports that show the property’s history in detail.

 

This way, some unforeseen issues may come to the surface, such as:

Forgeries and fraud:

 

This is the worst case. It is not hard to find fabricated documents within public records. This is a serious issue, as it can result in penalties such as prison time, fines, or even both.

Judicial problems:

 

Some homeowners have judgments attached to their property, which may include even unpaid child support or unpaid contractors.

Unknown easements:

 

Despite not being a financial issue, this will generate some unpleasant limitations that preclude the enjoyment of the property. It happens when a home or property has restrictions on how to use it.

 

Unknown liens:

 

Title searches often reveal unpaid debts or taxes involving the property. It happens because, every time someone misses a payment, the Internal Revenue Service (IRS) place a lien on their real estate. It is important to be aware and detect this issue before closing the purchase.

Disputes regarding boundary:

 

It is not uncommon that neighbors disagree on which part of the property belongs to who. This type of issue must be settled as sooner as possible, as it can grow further into a complicated situation. Buyers tend to stay away from properties with boundary disputes, so it is essential to solving it before listing the property.

Mistakes in public records:

 

A mistake related to a property title can be a disaster for the homebuyer. A little error in the recording process can lead to huge amounts of money spent on legal costs to solve it.

 

Besides, it is essential to anticipate questions associated with inheritances and wills, such as:

Undiscovered will:

 

When a person dies without letting a will, the state is responsible for deciding to sell the home. But it is not so simple, as once the rightful heir reappears, the new owner will face ownership claims on his property.

Missing Heirs:

 

This situation happens when the heirs are missing, or some family members decide to contest their rights on the property. It is extremely complicated, as family issues involve privacy and emotional issues, which will simply daunt potential buyers.

 

How Do You Resolve Title Issues in South Florida? Marina Title Has The Answer For Your Case.

Solving this type of issue can be complex and demanding. Waste no time, seek professional guidance at Marina Title and we will help you solve any title issues. Call us to (305) 901-5628 or send us an email to Romy@MarinaTitle.com and get help now.

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