What Types Of Problems May Plague Property Titles
A thorough review of a property’s title during the purchase process is essential in order to avoid problems down the road.
People who buy real estate in California may well know that a review of the property’s title is part of the sale process. This applies to property that involves land alone or that may also include one or more structures on the land. The title review process is an essential component of any real estate purchase and should not be taken lightly. Understanding some of the problems that may be found during or even after a sale is important.
Incorrect information due to human error
First American, a title company, explains that property titles are matters of public record yet there are steps in the titling process in which human error can introduce problems. For example, someone may mistakenly enter that a home with four bedrooms has only three bedrooms. This seemingly simple error can complicate a purchase or finance process.
Liens on property
According to SF Gate, many things may result in a lien being placed on a property. The presence of a lien may prevent a purchase from being completed as originally hoped unless the lien is able to be properly addressed.
The Washington Post explains that not all liens against a property may actually relate to debts owed by the current owners. When contractors perform work on homes or other buildings, they may place what is called a