Buying a house in Florida can be a stressful situation. There are complicated factors you may be up against. This includes issues that prevent or delay getting a property title.
The most common issues that impact getting property titles
The following are just a few factors that can negatively impact your ability to close on your new home:
Liens
A lien may be on the property if the seller hasn’t paid all of their taxes or debt on the property. Whatever business or agency they owe would usually place a lien on the house, which in turn gives them legal ownership of the property’s title. The lien won’t be taken off the property until they pay the debt.
Unclear definition of boundaries
In some instances, property lines for a home aren’t defined in a clear manner. A neighbor to this property may swoop in and claim ownership for part of the property, especially if it encroaches on other land. This also can occur if some of the property rests on public land.
Issues with public records
If there are mistakes on the deed, there can be serious problems. This can include missing information and even a simple clerical error. As soon as someone notices the error, it should be fixed. The office will have to refile the deed so that you can proceed with the closing.
Legality of deeds
If the previous homeowner conducted their title illegally, such as in the case of a minor or if a married person claims to be single, it will present a problem with the title and delay real estate title closings. There are instances of complete fraud, such as someone going to the closing and stating they’re someone they’re not. When outright fraud occurs, the appropriate professionals must unravel what has happened and tackle legal matters before you can close on the property.
Title closings aren’t as straightforward as you might think. Prepare to hit a snag or two during the home closing process. Be aware of the complications and proceed with caution to ensure that you’re on the right side of the law.