When buying a home, it’s essential to be aware of potential title issues that could affect your ownership rights. At Themis Title, we believe that knowledge is power, and understanding these common problems can help you make informed decisions throughout the home-buying process.
1. Liens on the Property
One of the most common title issues is the presence of liens. A lien is a legal claim against the property, often due to unpaid debts, such as taxes, contractor fees, or mortgages. If not resolved before closing, a lien could jeopardize your ownership. Title insurance protects you from financial loss related to undiscovered liens that may arise after you purchase the property.
2. Boundary Disputes
Boundary disputes can occur when there is uncertainty about the property lines. This can lead to conflicts with neighbors, especially if there are improvements made, like fences or driveways, that encroach on adjacent properties. A thorough title search can help identify any existing surveys or easements that clarify property boundaries, reducing the risk of disputes.
3. Undisclosed Heirs
In some cases, properties may have undisclosed heirs who could lay claim to the property after a sale. This issue often arises when a previous owner passes away without a clear estate plan. Title insurance provides protection against claims from undisclosed heirs, ensuring your ownership remains secure.
4. Fraudulent Claims
Unfortunately, property fraud is a reality in real estate transactions. This can involve forged signatures on documents or fraudulent sales by individuals without legitimate ownership. A title search helps to identify and mitigate these risks, while title insurance protects you from any losses associated with fraudulent claims.
5. Title Defects
Title defects can arise from clerical errors in public records, such as misspelled names, incorrect legal descriptions, or other discrepancies. These errors can lead to confusion about ownership and potential legal challenges. Title insurance ensures that you are protected against financial losses stemming from such defects.
Protect Yourself with Themis Title
At Themis Title, we are committed to helping you navigate the complexities of home buying. Our team of experts will conduct a comprehensive title search to identify any potential issues and ensure that you are fully informed before closing. With our title insurance, you can purchase your new home with confidence, knowing that you are protected against unforeseen title challenges.
If you have questions about common title issues or need assistance with your home purchase, contact Themis Title today. We’re here to help you secure your investment and enjoy your new home!