Your real estate attorney will conduct a thorough search of the title related to the property you wish to purchase. This search will ascertain the seller’s legal ability to transfer clear market title to the property.
Clear titles are titles without any kind of encumbrance from any source; whether it be judgment liens, tax liens, construction liens, mortgage liens or any of a myriad of other possible impediments on the title, and clears any doubt as to unencumbered full legal ownership.
Other Risks That Can Cause Encumbrances On a Title
- Forged deeds or mortgages.
- Impersonation of true owners of a property.
- Undisclosed heirs.
- Liens from an unpaid estate, inheritance or income taxes.
- Issues resulting from a prior or existing marriage.
- Invalid tax titles.
- Deeds from incompetent persons.
- Fraud or coercion in securing signatures.
Any of these risks can cause encumbrances to a title and affect your ownership of a property. It is essential that you hire a real estate attorney such as Richard S. Weinstein to ensure that you are receiving a clear title.
Merchantable and Marketable Titles
A marketable real estate title is a title that is considered to be free from defect and can be accepted by a buyer. When signing a contract, it is implied that the property has a marketable title. If the seller fails to provide a good and marketable title, the buyer will be able to rescind the contract and recover their deposit.
Remember hiring a reputable real estate attorney will ensure your home purchase goes as smoothly as possible. Call Richard S. Weinstein for his expertise on ensuring the title for the property you are purchasing is merchantable and marketable.
With over 50 years experience as an attorney, Richard S. Weinstein assists clients with the important financial situations in their lives. Whether you are dealing with bankruptcy, real estate (both commercial and residential, including short sales, foreclosures, and title insurance), estate planning, probate, business formations, or sales or mergers, Richard S. Weinstein is the attorney with the experience and knowledge you need! Call us at (561) 745-3040 or visit his website at rweinsteinlaw.com.
Law Office of Richard S. Weinstein, P.A.
250 S. Central Blvd. #101
Jupiter, FL 33458
Phone: (561) 745-3040
© Copyright 2017. All Rights Reserved.