How a Real Estate Lawyer Can Help with Title Problems
When you purchase a property, the property's title will be legally turned over to you. However, sometimes issues can arise from the title that the buyer was unaware of. That's why it's best to have a real estate lawyer on your side to help solve problems involving the property title.
Previous Ownership Claims
If you're purchasing property, there's a possibility that you could purchase a property from a seller who may not have owned the property for the entire time that they claimed. This can happen when multiple people have claimed ownership of the property. A real estate lawyer can uncover these facts and help you avoid unnecessary hassles when purchasing your next property.
Multiple Lien Claims
If you're purchasing a property, you'll want to check to see if there are any liens or mortgage payments. This can potentially put you in a difficult financial situation, so it's best to have a real estate lawyer help you determine if the lien can be removed or paid off before you purchase the property.
Miscalculations on Title
When looking at the information on the title, you may discover that there are miscalculations that were made by the title search. A real estate lawyer can help you make sure the information on the title is accurate so that you're not required to pay more than you're supposed to when you buy the property.
Boundary Disputes
If you buy property next to a neighbor, you should be able to use your property however you see fit. If not, you could find yourself in a dispute with your neighbor. A real estate lawyer can help you learn about the property lines and what you're allowed to do on your property.
Easements
An easement is a right to use someone else's land for a specific purpose. This could include using a road or having access to electricity. If you're purchasing a property that contains an easement, you should have a real estate lawyer review the easement to make sure you're not paying more than you should be.
Title Issues Involving Wills
If you're purchasing a property that involves a will, you should have a lawyer review the will first before purchasing it. Wills can have a huge effect on the property you're trying to purchase, and you shouldn't buy a property without first having a real estate lawyer review the will.
Post-Closing Lawyer Services
Once you've closed on the purchase of your next investment property, it's smart to have a real estate lawyer contact the seller's lawyer if you have any problems with the title. This can help you to avoid any potential problems that you could encounter with the title of the property.
Title insurance is also something to consider when you purchase a property because it can help to protect you from the possibility of an error on the title. Your real estate lawyer can help you to determine whether or not title insurance is a good choice for you, so be sure to ask for advice as you search for investment properties.
Final Thoughts
Title problems are extremely common when buying property. However, these problems can be avoided if you have a real estate lawyer on your side to assist you in making sure the title is as clear as possible.
Resolve your title problems with the help of Hamilton Cahoon. We are real estate lawyers in Medicine Hat that can assist you in all your legal matters, including family law, civil litigation, personal injury, real estate and other legal matters. Book a consultation today!