Real estate purchases can include simple and complex procedures, all necessary to keep transactions organized and legally sound. Closing a sale may feel like reaching the finish line, but some factors, such as title issues, can complicate this stage of the process.
The typical steps during closing usually involve transferring ownership to the buyer. But if the title has issues, the buyer may need to fix them before proceeding with the sale. Sometimes, these defects can appear after doing a title search. There are also times when these issues arise later in the purchase, causing complications. They can happen in various forms, including the following incidents:
- There are errors involving the property’s paperwork. These can be mishandled documents or honest clerical errors, warranting refiling before closing.
- There are unpaid loans or taxes tied up in the property, giving creditors legal claims over the title. Repayment could fix these issues but might require further investigation if the debt details are unclear.
- Private or public entities made claims concerning the property’s boundaries.
- There are forged or fraudulent documents made on the title.
- An individual suddenly raises a claim on the property as an heir.
These issues can come with troublesome consequences and extensive costs if not addressed immediately.
Getting help to fix title issues
There are firms that can help resolve these issues, but you should seek legal counsel to receive insight relevant to your unique circumstances. The amount of work necessary to resolve title issues can vary, depending on the legal nature of the claims. By having legal guidance, you can also foresee scenarios and prepare while addressing other problems that might arise along the way.