In a real estate transaction, the seller has the legal obligation to deliver full title to the buyer. The purchaser has the legal right to enjoy the full ownership of the property that they have bought. However, there may be issues with title that arise during the transaction process or afterward. Here are some of them.
Unknown easements – someone else may have been granted or acquired the right to use a certain part of the property for a specific use. Even though they do not have an ownership interest, you must still share the property with them.
Liens on the property – unpaid bills or other Financial issues can lead to someone else having a lien on the real estate. Creditors have an encumbrance on the property because the owner has failed to take care of a financial obligation.
Boundary line issues – there may be a dispute between neighbors over the exact dividing line between two properties. The seller may not actually own all of the property that they claim. A neighbor may claim that the lot actually encroaches on their property.
Unknown or missing heirs – the property may have been sold after the owner died. An unknown family member may come forward and try to claim part of the property before it is sold. Alternatively, the deceased person’s will, which may have been previously missing, could be discovered between the time of the sale and the closing.
Title issues can sink a real estate transaction. If the buyer discovers a title issue after closing, they may be able to sue the seller or the title company.
Contact a Miami Property Disputes Attorney
Lawyer Daniel P. Diaz works to help clients resolve real estate disputes. Call us today at 786.256.3299 or contact us online to discuss your matter.
