by Capital Abstract & Title | September 2, 2021
Closing on a new home is not as easy as it may seem. There are several elements involved in closing on a home, which can be very difficult to grasp for new homeowners. One such element is the property search. The National Association of Realtors recently revealed that about nine percent of closing delays are due to issues with the property title.
Most of you have probably heard about title searches several times, but you might not know what it really is or why it is necessary. If you are stuck in such a scenario, it is best to gain a clear idea on the title search Weston. The property title search is crucial because it helps new homeowners avoid issues and delays in the closing process.
What Is Property Title
In simple words, the property title documents who the owner of the house is, which means it gives you a clear idea of who is eligible to sell the house to another person. Identifying the owner may seem fairly straightforward, but it isn’t especially when there are liens on the home that may affect the right of the buyer to sell the property.
The person who is the owner of the home is the one who has the right to sell the house. For instance, if a husband and wife are trying to sell their house, but the house is owned by the wife, then only she has the right to make the selling decision. This can get fairly tricky in certain situations like divorce.
What is Property Search
A property search can be defined as the process of searching for all documents related to a certain home or property. If you wish to know more about title search Weston, it is best to get in touch with experts.
by Capital Abstract & Title | August 27, 2021
Finalizing a home sale is never a simple process. The process takes forever. Sometimes, the delay is due to a poorly conducted title search in Boca Raton, delay in verification of the property title, and the like. Closing delays can be avoided on many occasions if a property title search is conducted in a timely manner.
But what is a property title search? Well, a property title search signifies the owner of the house. Any person having their name on the document has the right to sell the house. If the owner happens to have liens on their property, they cannot sell the property without settling the liens.
Any person who does not have their name on the documents cannot sell the house. Suppose a 20-year-old college student happens to have their name on the documents, and their parents attempt to sell the house in their absence. Are they legally allowed to? No, only the student can initiate the sale.
Property title search in Boca Raton entails looking for documents pertaining to a particular property. A property title may not include all the necessary details related to liens on the specific property. If you do not search for the relevant information, you may end up investing your savings in a defective property title. You must understand the property you are purchasing may have had numerous owners in the past. At times, apart from the owner, their family members also make claims to the house. So, avoid any surprises by opting for a property title search.
A title search will enable you to uncover the details and records associated with the property you are willing to purchase. It will reveal anything that the owner was attempting to hide from you. You would not want to learn these details later on, would you? You should be cautious when investing in a property.
Now, when is a property title search conducted? It is conducted when a buyer expresses interest in buying the property, pays, but doesn’t receive the ownership rights of the property.
If you want to get a property title search conducted, reach out to us at Capital Abstract & Title.
by Capital Abstract & Title | August 13, 2021
When you purchase or sell a property, it is crucial to conduct a title search in the preliminary stage. If you are a seller, while conducting a title search you may discover that you don’t even possess the right to sell whereas if you are a buyer, you may uncover that the property is under debt and that it will hamper your interests.
A title search is a huge responsibility. You will have to scrutinize numerous documents, deeds, contracts, unearth whether the property is debt-free, etc. You can always hire a lawyer for conducting a title search in Boca Raton.
But before that, you need to understand the necessity of conducting a title search. Reasons are listed as follows:
- As a buyer, it will help that you cross-check whether the sellers have the claim to the property or not. You will be able to maintain a record of numerous people who have had the claim to property in the past. If the property has been sold multiple times within a limited span, it may set off warning bells.
- You will get an insight into the easements on the property. You would want to unearth if your neighboring houses can lay claim to using your parking space, the pathway to your house, etc. to avert any such issues in the future.
- A title search will help you ascertain if the house has any bylaws registered to it. If it does, you may not possess the right to renovate the property, lease out your property, use the property for commercial purposes, etc.
To avoid any such contingencies at a later stage, it becomes imperative to conduct a title search. If you are looking for a lawyer to conduct a title search in Boca Raton, reach out to us. We at Capital Abstract & Title specialize in conducting title searches for our clientele. Entrust us with the task and put all your worries to rest.