Most Florida properties have a history of previous owners. A thorough title search can help uncover any title defects tied to your property and, subject to the terms of the policy, your title insurance provides protection from any title problems that may become known after you close your transaction. Title Agent Selection Is Important When Buying A Home and here’s common title problems you may face and Title Insurance is important.
1. FORGERIES – Sometimes forged or fabricated documents that affect property ownership are filed in public records, obscuring rightful ownership of a property.
2. UNKNOWN LIENS – This is an especially worrisome issue with distressed properties or those that were previously subject to foreclosure or short sale.
3. UNDISCOVERED ENCUMBRANCES – These claims may be due to a former mortgage or lien that was unresolved or non-financial claims, like restrictions or covenants which may limit your use of the property.
4. ERRORS IN PUBLIC RECORDS – Clerical or filing errors could affect the deed or survey of your property and cause undue financial strain in order to resolve them.
5. MISSING HEIRS – These scenarios, which can occur long after you have purchased a property, may affect your ownership rights.
6. ILLEGAL DEEDS – These instances may affect the enforce-ability of prior deeds, affecting prior and possibly current ownership.
7. UNKNOWN EASEMENTS
8. BOUNDARY / SURVEY DISPUTES
9. UNDISCOVERED WILL
10. FRAUD / IMPERSONATION
Find the right title company and title insurance!! Protecting your interest in what is likely your most costly investment is essential.