If you want to buy a new home, it must have a clear title. In the vast majority of cases, this will be true. However, it is dangerous to assume that there are no issues with the title, as they could come to light later in the process and be very problematic.
As you start looking for your new home, consider these potential problems so that you know how to address them and how to avoid them.
There are liens on the home
There could be various types of liens on the home due to financial issues that occurred in the past. Examples include a lien for child support, a lien for spousal support or a mechanic’s lien.
The deed itself is illegal
The deed could have been obtained illegally. For instance, there are fraud cases where people will be tricked into signing the deed into someone else’s name, and then that person will sell the home out from under them. This leads to a scenario where two people believe that they own the home, while the person who committed the fraud pockets the money and disappears.
A will has not yet been discovered
In some cases, there are conflicting wills or undiscovered wills. If the heirs did not know that a will existed, they may have decided to sell the house. However, a will could be discovered later that says the house was legally supposed to be left to another person. Does this mean that you own the home, or does that person still have a right to it? These types of issues can get very complicated.
Working through the process
If you do find yourself facing any of these sorts of challenges when all you wanted to do was buy a home for your family, take the time to look into all of the legal steps you can take. It may help to work with an experienced team that has done this before.