Title problems can hold up and negatively impact a residential real estate deal which is why it is important to know what to watch for and anticipate and what the common problems with a title are. You may wonder what those common problems with a title are and what can be done to fix them.
One type of title issue is an error in the public record which can cause challenges down the road to the unsuspecting home buyer. Errors in the public record can come about due to simple errors in filing or because of clerical errors. It is also important to ensure there are no unknown liens on the property that the home buyer is unaware of. Even if it is not their debt, the lien may still be placed on the property they come to own.
In addition, another title issue can include if there is an illegal deed somewhere in the chain of title. Such situations can potentially impact the enforceability of a deed. Missing heirs, undiscovered will and forgeries can also create challenges for home buyers. Another especial challenge can include undiscovered encumbrances such as an unknown covenant, unknown easements and boundary or survey dispute.
It is important to protect and guard against against problems with a title after a residential real estate
transaction closes which is why it is necessary for potential home buyers to be familiar with the ways they can protect themselves against problems with the title. Making sure the title history is extensively reviewed is an important step for home buyers wishing to protect their investment.