Most properties have a unique title number, register, and title plan registered with the state. Title deeds and other documents can provide proof of ownership for an unregistered property. It can be challenging to convince a prospective buyer to buy your Alabama home if you’re in a hurry to move. How can I sell my house fast, Alabama? Fortunately, there are reliable cash homebuyers like Rhed Key Properties who can buy your property even with title issues. Rhed Key is a reputable company in Alabama that buys properties as they are.
Property Title: What’s it all about?
An ownership interest or share of the property can be transferred to someone else through a “title deed,” an official document that outlines a person’s legal rights to the property. If you and your partner share the ownership of a property, for example, you both have the right to do so.
It is with a “title deed” that legal title (ownership) can be transferred from one person to another. In other words, while a title denotes an individual’s claim to a piece of real estate, deeds are actual documents.
The “title number,” “title plan,” and “title register” are some of the more common terms for discussing a property’s title. The Land Registry issues a unique title number for each property registered with the Land Registry. It is achievable to get a copy of the title register and other registered documents by using the title number. There are no differences between a title register and a title deed.
Which Title Issues in Alabama Are the Most Frequently Encountered?
When you choose to put your home on the market, you may discover issues with the property’s title. The following are examples of problems that could arise when using the title:
Inaccuracies in public records
When a property deed, the legally binding document that details ownership and property information, is defective, it can lead to problems. Deeds with clerical errors and insufficient information must be corrected and re-filed before closing can take place.
Liens
There are various ways in which the seller’s debtors, such as a bank, government agency, or business, can put a promissory note on the property, which gives them a lawful ownership claim. When a deficit is not paid in full, liens are usually not released. Judges have been known to mistakenly place liens on people’s homes when their names coincide with those of other people who owe money.
Boundaries that are unclear
Someone else may claim it if a portion of the property is public land, infringes on the land of someone else, or infringes on the land of someone else.
Fraud, forgery, and other forms of illegal activity
It is possible that someone with no legal status, an unstable mind, or a minor who stated to be single in the deed obtained legal ownership of the property. Someone could fabricate documents to assert ownership of the house. For example, the seller’s spouse could turn up at the closing and argue to be the seller’s partner. Both of these instances are flagrantly fraudulent.
Found or unidentified heirs
Ownership disputes may arise if an owner of the property dies before selling their home. In some cases, close relatives who were not present when the owner died may come forth to assert their estate or challenge the owner’s will for equity; the owner’s will itself may have been lacking and found right prior to actually closing, with provisions about who rightly possesses their residence.
Land that has not been officially registered
You must locate and check your deeds for any potential issues that could delay a sale or purchase. The title deeds will have to be examined, and any potential issues advised on rather than the Official Copy being checked.
Deeds that have been forgotten
Even if you are unable to locate your deeds, we will attempt to reconstruct your title by gathering as much proof of ownership evidence as possible, including written statements from the owner and/or the party who last held the deeds, and submitting an application to the Land Registry for registration.
Restricted tenancy agreements
For the benefit of adjacent land, a restrictive covenant is a type of restriction that may apply to your property. Restrictive covenants can’t be changed or removed, but it’s best for your buyer to know if they exist at the beginning of the process.
How to Sell a property with a Title Problem
Consult a CAsh Buyer about your options if you’re dealing with any of the problems listed above. Alternatively, you can contact a reputable cash home buyer like Rhed Key for a quick and hassle-free sale. The company offers homeowners an opportunity to sell their homes fast in Alabama.
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