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The 8 Most Common Title Curative Issues
A title search is the only way to protect yourself against the cost, time, and hassle of dealing with curative title issues. It lets you know if there’s any record of a lien or judgment against the property. It also reveals previous claims against the property, any outstanding mortgages, or liens filed by contractors and subcontractors who haven’t been paid for their work on the property
The most common curative issues that arise with real estate title deeds include:
1. Liens and Judgments
Liens and judgments can be filed against properties for many reasons, from unpaid taxes to contractor disputes. Once a tax lien or judgment is recorded against a property, it becomes part of its public record forever – even if it’s paid off later. This can make it difficult for new buyers to get financing because lenders don’t want to lend money on what they perceive as a risky asset (the unpaid taxes).
Easements are permissions that allow someone other than the owner to use part of a piece of land, such as for utilities like gas lines or power lines, or public use such as sidewalks. If ...
... there is an unrecorded right of way on a property, it could prevent sale or financing it unless negotiations are done with the person who owns that right of way. There are two types of easements:
Easements by necessity and prior use are implied due to the need to access or use a piece of property. They refer to cases where another parcel can be accessed only through the property in question. The seller should have documentation showing that they have been using this portion of the property for years prior to sale. Prior use refers to cases where no document exists, but someone has been using the area for years without objection from the adjacent parcel owner.
Easements by implication (sometimes called implied easements). These easements are not necessary for access or use but are created when an owner does something with their property that benefits another’s land (like building a driveway).
3. Mortgage Liens
Proper title search and curative efforts ensure that any outstanding mortgage liens are identified and addressed appropriately to avoid issues with lien position. If there’s a lien on the property, it could cost you in dollars and time.
4. Mistakes in the Legal Description of the Property
The legal description of a property is fundamental to understanding the boundaries of a piece of land. When this information is incorrect, it can lead to title issues that can be costly and time-consuming. The most common mistakes with legal descriptions are:
Names spelled incorrectly
Street numbers or street names misspelled
Property line descriptions do not match up with physical features on the ground.
5. Undiscovered Building Code Violations
Building code violations often go unnoticed for years, only to be discovered after a home sale or when an inspection is done on the house. Depending on the severity of the problems, this could mean expensive repairs or even demolition.
6. Map and Boundary Dispute
Some municipalities use aerial photographs as their primary method of mapping property lines and assigning addresses. This can lead to problems if one person’s property line is mapped incorrectly on the map (which can happen if trees or other obstacles obscure parts of someone’s yard). This can lead to disputes between neighbors over who owns which parts of the property line — especially if they have been using those areas for years without incident before discovering that they belonged to someone else. While you can address these issues by hiring a surveyor to resolve them, the parties involved often want their questions answered before deciding how they want to proceed. In these cases, curative services company, such as The Einfach Group, TEG, can assist by reviewing the property lines, researching historical records, and conducting title searches to confirm what appears on the paper.
7. Missing Signatures
When a property is sold, the buyer and seller sign the deed to indicate their agreement on the sale price. When the deed is recorded in public records, they also sign an affidavit stating that they understand what they’re signing. If either party fails to sign these documents before recording them, there may be problems down the line when someone else claims ownership of the property based on their failure to sign.
8. Undisclosed Heirs
One of the more common challenges facing every title company is finding hidden heirs. This can be particularly difficult if there hasn’t been a death in the family or a divorce in recent years. When someone dies without a will, their assets are distributed per state law. Suppose there is no legal heir apparent (someone who would inherit automatically). In that case, it becomes necessary for the probate court to determine who gets what and who gets left out in the cold altogether. In cases with no apparent heirs or beneficiaries, it’s up to the courts to decide who gets what from estate proceedings to distribute assets according to state law. If you inherit a home from a relative who passed away without leaving a will, you may find yourself dealing with an undisclosed heir claim down the road. This is when someone claims they have more right to the property than they do because they believe they’re entitled to inherited assets despite not being named in the will.
Let Professional TEG Curative Services Handle Your Title Curative Issues
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