Title Defect
Real Estate Lawyer Representing Clients with Title Defects
When you are purchasing real property, you might assume that you will soon be the owner of the property once the seller has accepted your offer and the contracts are signed. Yet a critical element of the real estate purchasing process involves the title. Title defects can take various forms, but they all mean that the property is unmarketable. Both buyers and sellers who are involved in a real property transaction need to understand how title defects can affect the sale of residential or commercial property, the potential causes of title defects, and possible ways of curing a title defect so that a sale can move forward. Our experienced attorneys can speak with you today to answer any questions.
Understanding Title Defects in FL
What is a title defect, and what are some examples of title defects? Title defects are any issues with the title that can make the property unsellable because of an existing problem. In other words, there is something defective about the title to the property. Common examples of title defects in Florida include but are not limited to the following:
- Lien against the property;
- Previous mortgage against the property;
- Property line dispute;
- Chain of title issues;
- Legal judgment against the seller or another previous owner of the property;
- Disputed easement on the property, or parties claiming they have a right to an easement on the property;
- Forgeries on previous deeds or contracts related to the property;
- Public record errors; and/or
- Delinquent taxes on the property.
There are other causes of title defects, too, and an experienced title defects attorney can discuss any concerns with you today.
Resolving Title Defects
It is important to know that a title defect does not necessarily mean that the sale cannot go forward, or that the property cannot be sold. Depending upon the specific title defect and the facts surrounding the case, it may be possible to cure the defect or to resolve the situation. In some title defect cases, the problem can be resolved by revising the document. If a buyer is intent on purchasing the property and the seller wants to resolve any existing defects, it may be possible to resolve chain of title issues or to pay delinquent taxes or to settle a pending legal case involving the property so that the sale can move forward.
Naturally, these kinds of solutions can take a significant amount of time, and the buyer might not want to wait. However, it is in the seller’s interest to resolve any title defects, regardless of whether this specific sale will move forward, so that the property can be marketable in the future.
Contact Our Title Defects Attorneys
Do you have questions about moving forward with a real estate sale or purchase when there is a title defect? Or do you need assistance resolving an existing title defect? One of our title defects lawyers can assist you. Contact Gilbert Garcia Group, P.A. for more information.
