One of the worst nightmares for someone who is in the closing process or has just bought property is when they realize that someone else may have a claim to it. Title disputes can be stressful matters that have high stakes attached.
When you are purchasing a property, you should always hire an attorney to perform a title search. Your attorney can review public records to see if there is anyone else who may have a right to or interest in the property.
Here are some common examples of things that may cause title disputes:
- Liens – someone who is owed money can place a lien that requires that they be paid before the property can be sold
- Recording errors – someone else made a mistake in recording a previous transaction
- Inheritance disputes – another heir may have rights to the property that is being sold
- A deed may have been fraudulent, and the seller does not have the legal right to the property
- There may be a boundary dispute with a neighbor
If you discover a title defect before the transaction closes, you would need to negotiate with the seller. They would need to satisfy the lien themselves, either before the transaction or with the proceeds of the deal. If you discover the title defect after the deal closes, you may be able to sue the seller for fraud if they knew or should have known about the problem and did not disclose it.
If you are a purchaser, you should be proactive and hire someone to search for and address all issues during the sales process.
Contact a Miami Real Estate Attorney Today
Attorney Daniel D Diaz represents buyers and sellers during the real estate transactions process, helping you address issues, either before or after they emerge. To speak with a lawyer, call us today at 786.256.3299 or send us a message online.
