What to do when weighing options with title issues is one of the things that stump us during a real estate sale or acquisition. A title issue could refer to a potential threat to a current owner or a titleholder’s full right or claim to sell a home or asset. The property might have a public recorded issue such as a mortgage, an outstanding loan, or judgment that gives another person right to the property. If a home buyer takes out a mortgage loan to pay for their house, the lender has a lien on the property which is ultimately an issue if the homeowner refuses to meet up with payment.
Typically the title holder is considered the property owner, but this can also be contestable in particular circumstances, such as if the titleholder refuses to pay the property tax or utility bills. When the title holder fails to make these payments, the government will place a lien on the property, which leads to a title issue or defect. Other title issues can arise, such as errors in public records, bankruptcies, liens on the probate process, unpaid taxes, etc.
What To Do When Weighing Options With Title Issues
TITLE SEARCH: The essential thing to do is perform a title search. Even if you think your property is squeaky clean, the most responsible thing to do is perform a title search which will open your eyes and inform you of any preexisting title issues and how severe they might be so that you can be aware of the next step you should take and for you to avoid any problem when selling your property.
FILING A DOCUMENT: You can file different documents to help you clear your title issues, such as a release of lien/judgment, which can relieve you of title issues on unpaid child support. There is also another document that can be filed depending on a title issue you might have. There is also a deed of reconveyance that records mortgage payments under a deed of trust presided over by the court.
HIRE A REAL ESTATE ATTORNEY: For the more complicated title issues that don’t appear in the title search, hiring a real estate attorney familiar with the legal process can help you take the appropriate steps free your home of property issues.
A homeowner should adequately solve any title issue because the sale won’t be able to go through otherwise, such that 11% of closing issues revolve around title issues. It is advisable to find a reliable cash buyer like RHED KEY, ready to help you bear the stress of the title issues you might have. RHED KEY can help you resolve your title issues with their competent real estate attorneys, ready to help you out for a smooth property sale. RHED KEY is the best option for you to choose.
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