What kinds of Problems can a Title Search Reveal?

The title to your home is your legal record of holding ownership of your home. The title holds the record of ownership of your property and if it’s not clear, then someone else can potentially make a claim to your home.

Believe it or not, one the most crucial steps in the purchase of a new home is the title search. A title search reviews all public records of your property to make sure that the title is clear, the seller can rightfully sell the home and you won’t have any issues later on.

Many people simply gloss over this step because there’s so much else to worry about when closing on a home. But defects in titles are actually much more common than you might expect. And when they’re found they can be difficult to correct.

Here are five of the most common issues that a title search can reveal.

Liens on the property

Outstanding liens on a home can still affect you when you purchase the new home. These happen most often when purchasing a foreclosure but they can show up in unexpected real estate transactions too. If you don’t clear these liens before purchasing the home, the debts can fall on you.

Public records errors

Just a simple misfiling, negligence, or incomplete documentation somewhere down the line in the history of your title can create a major headache for you in the future. Public record errors are one of the most common issues because they can happen so easily.

Unknown heirs

If a home was bought after someone was deceased, heirs can show up and contest the title of the home. Heirs can come out of the shadows after the purchase of a home and cause all sorts of issues with ownership.

Unknown easements

These are typically non-financial issues, but unknown easements can affect how you use and enjoy your property. They could keep you from using the property as you want or allow others access to your property.

Boundary disputes and encroachment

Encroachment and boundary disputes happen when your land and a neighbor’s overlap. When the land survey and boundaries of your land and neighboring lands come into conflict, this can cause dispute.

When searching a title it is imperative that you find a team that does a complete and thorough job. Even the smallest missed detail in a title search could cause major problems for you.

Don’t simply gloss over the title search when purchasing a new home. Talk with us today about your title and how we can ensure that there are no issues with ownership.