Florida National Title will conduct a thorough search on the title of the property you are purchasing and ensure there are no hidden defects. Prior to the closing, we will retrieve records on the property to be sure the title is clear of any liens, judgments or encumbrances which affect the marketability of your title…
Possible Title Defects
- Errors or missing documents in the public records -clerical or filing errors can affect the deed to your property.
- Unknown liens – prior owners may not have paid all their debts and their creditors can place liens on the property, even after the closing under some circumstances…
- Problematic deeds – a married person who fails to reveal their marriage or an incompetent person, among other scenarios, can affect ownership.
- Missing heirs – if the ownership in the title history gives an interest to an heir who is missing, they may return and contest their right to their interest in the property, sometimes long after your purchase.
- Forgeries – forged records may affect your right to the property.
- Undiscovered encumbrances – an unknown third party may have rights to your property.
- Unknown easements – an easement can affect your using the property as you like or could allow strangers to access parts of your property.
- Boundary/survey disputes – surveys may exist showing differing boundaries.
- False impersonation of the previous owner – if you purchase a home from an impostor who pretends to own the property, you risk losing your purchase funds while still owing your lender for any mortgage proceeds.
A marketable title is the result of a chain of ownership free from defects and can be marketed for sale with no corrective measures needed to be taken by the seller. A marketable title means that a property carries ownership rights strong enough to be sold. A title is safe and will not stand in the way of a buyer’s decision to purchase. Marketable titles may also include properties that have defects that will be remedied before or at the time of closing.
Ironically, an existing mortgage is a serious title defect since buyers do not want to buy properties which are burdened by a prior owner’s mortgage lien. However, buyers know the mortgage lien will be removed at closing when they provide the money to the seller to pay off the mortgage and have the lien released.
An insurable title means there are no defects that could affect a prospective owner’s interest in buying a property.
Florida National Title
Florida National Title will work diligently to research your title to give you the peace of mind and confidence to move forward with your purchase. Our seasoned professionals are ready to handle any title task no matter how complex.
Expert Title Services Jupiter
Florida National Title has years of experience guiding Florida home buyers through the real estate purchase experience and has helped them solve the problems that come up in the process. We will decipher the “legalese” and explain what we need and why we need it each step of the way. The blogs to follow will address specific issues to guide buyers to better understand the process and to help them avoid many of the pitfalls. Call us at (561)408-0729 or visit us at.
Florida National Title Services, LLC
250 S. Central Blvd., Suite 101
Jupiter, Florida 33458
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