When an individual intends to buy a property, it means they want to enjoy the right to use it and, in the future, transfer the ownership to their legal heir. A title can be obtained in several ways.
The survivorship right is one of the vital aspects where joint tenants let the surviving co-owner absorb the share of the deceased co-owner’s property.
However, a dispute arises when third parties like government organizations or mortgage institutes claim their rights. The government may have liens against unpaid taxes, while the bank may have loan dues. Here is where you need the help of a title search.
Title Search agencies near Boca Raton are quite well-equipped to unveil the property history without wasting any time.
Benefits of title searching
Through proper analysis of public records and other property-related documents, a professional title searcher tries to disclose the history and current status of the property. If a prospective buyer seeks a mortgage loan, the lender conducts a third-party title search to get the “clean” report.
Several issues can create trouble in the sale of the property, such as:
a. Forged or fake documents
Fraudsters may impersonate the trademarks and signatures of the legal property owners and try to create trouble.
b. Expired or fabricated power of attorney disputes
Illegitimate titles are owned by the individuals who have fabricated power of attorney documents or are carrying expired power of attorney documents.
c. Printing errors
The most common title disputes arise when the records/documents are not properly indexed, similar names are transcribed and the original documents are lost.
d. Illegal possession of the property
Disputes arise when the joint owners are separated but not divorced, or the property is owned by illegitimate successors.
Consider hiring professionals from the Title Search agencies located near Boca Raton to avail the best professional service and get the much-needed peace of mind.