A property’s title includes all of its rights in one package. When a home is sold, the title transfers from one party to another. Common title issues that aren’t addressed can prevent a closing from taking place. Worst of all, some buyers and sellers experience problems with closing on a house when title issues pop up at the last moment. So today, the best title insurance company in AZ is making you aware of the top 10 most common title problems.
At the best title insurance company in AZ, titles and closings are our areas of expertise. If you’re wondering what a clouded title is, or if you’re afraid of chain of title problems for any reason, read on to learn more about common title problems — and how we can help.
10 Most Common Title Problems
While there are a number of things can cloud a title, here’s a look at some of the most common title problems.
1.Easements: As easement occurs when another party has the permission to use your property for a specific purpose. An unknown easement can create title problems for your property if it is not discovered and discussed ahead of a closing.
2.Encumbrances: This category includes easements but also deed restrictions, violations and licenses. Anything that prevents a title from being classified as free and clear is considered an encumbrance.
3.Disputes: Any time conflicting records lead to boundary or survey disputes, the owner’s claim to at least a portion of the property is unexpectedly at risk.
4.Wills: An unknown will found after the conveyance of a property could put the new owner’s right to the property at risk.
5.Impersonation: If at any point a property was sold by someone who impersonated the owner, it clouds the title and could put your claim to a property at risk.
6.Forgery: Just like impersonation, if documents are forged in any way, it could also cloud the title and put your claim to a property at risk.
7.Heirs: It’s natural for property to pass from one generation to the next at the time of an owner’s death. However, a missing heir can create title problems. Heirs can sometimes create serious title problems that must be remedied by the best title insurance company in AZ.
8.Deeds: Deeds can sometimes be illegal such as if someone signed a deed when they were of unfit mind, if they were under 18 or if he or she was an illegal alien.
9.Liens: A lien is when someone can make a claim to your property in particular situations. Sometimes unknown liens create title problems during a home transaction.
10.Errors: A misspelled name or incorrect number can create errors in public records that could create issues for your property’s chain of title. When errors in public records come up, it can sometimes cost money to remedy.
Make Sure Your Closing Goes Smoothly by Trusting the Best Title Insurance company in AZ
Are you sure about the title of a property you’re about to buy or sell? If not, the closing of a home could turn into a complicated and ultimately unsuccessful transaction. We have the experience and knowledge necessary to make sure each and every closing goes smoothly. We put in the extra time and effort needed to ensure the title involved in your transaction doesn’t suffer from any of the above title problems and goes on without a hitch.
Trust your transaction to the best title insurance company in AZ. Call our office today to schedule a consultation for a free quote or more information regarding how we can ensure your closing goes as smoothly as possible.