At Gables Title Group we’re looking at every bit of information that exists in relation to your property’s ownership. We’d like to let you know what you should be looking for in the documentation that is put together for your title. These are just a few items that we’d like you to pay attention to:
Are there any falsified documents? It may seem like something made up, but it is possible for nefarious actors to produce fake documentation and file it as “legitimate” with your county registrar’s office. If this happens it will make obtaining title for your property impossible. This would also mean that the “rightful” and “legitimate” owner of your property is essentially unknown and the chain of title is broken. A break in the chain of title can be remedied by the property owner going to court to seek quiet title action. This means that the judge can rule the break as irrelevant and no longer exists. This would mean the title has been restored.
Property dispute with the neighbor. When you’re a child and you share a room with your sibling the toys on your side are yours and the ones on their side are theirs… Except they keep coming to get the soldier action figure “because he’s married to Rapunzel”. This is frustrating, and happens in adulthood too, except lines of division are drawn by your local government and documented at the property records office.
Unknown heir or will. In rare cases, there will be an estate issue, where an heir or will are discovered, and this newly discovered estate puts the future of the property in flux and up for dispute. This would jeopardize your ability to receive title to the property.
There is an error in the public records. While rare, there could be a clerical or filing error. This would affect your ability to gain title of a property or decipher the chain of title in any clear way.
The unencumbered reality. The transfer of property is usually unaffected by encumbrances because they just mean that a third party has an “interest” in the property. It could work to your advantage because this would diminish the value of a property a little bit at negotiation time.
Lien-ing into the property. In essence, you’re putting a lien on a property that you purchase with a mortgage, but you need to know that there are no other liens on the property. In essence, a lien means that the property is being used as collateral for an outstanding debt of the prior owner.
Fraudulent identity. If someone has impersonated the property owner in order to gain control and usage of the property, or sell it without authorization this would need to be cleared up in order for you to be able to gain title and ownership of the property.
Property code violations. A building code violation or work done without proper authorization and permits would affect the property title and your ability to obtain a clean title.
If you find yourself in need of obtaining clean title on your property, refinancing, or receiving the title for an investment property Gables Title Group’s experienced legal and insurance professionals will help you at every step of the process from “contract to closing”.
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