Much like conducting a home inspection before purchasing a house, performing a title search ensures that a property you’re interested in is authentic and free from defects and legal encumbrances. With the help of an attorney well-versed in real estate law, you can carry out a title search and quickly identify potential problems. Here are some of the usual challenges you may encounter during a title search.  

Importance of Real Estate Title Searches

1. Inaccurate Information

Even the slightest inaccuracy in a real estate title can have a consequential impact. Clerical errors are generally easy to spot and disentangle, but when property owners intentionally forge filings or conceal information, you may end up having to spend a considerable amount of money to resolve a deed or survey issue if you didn’t execute a title search before taking ownership.

2. Potential Easements & Claims

What a nightmare to discover that another party has a claim to your property. To avoid troublesome claims, thoroughly search public records for validation that the seller is the true property owner. You should verify that no heirs can suddenly lay claim to your real estate and that there aren’t any existing co-signers on the title. Similarly, you should be aware of easements that turn up in your title search because they can significantly affect your property value. An easement grants the holder an interest in land owned by another and gives them rights to use it. Some easements, for example, may require you to share your driveway with a neighbor.

3. Unreleased Liens

A lien is a right granting a claim on a piece of property to a lienholder until a debt is paid. If the previous owner wasn’t able to satisfy a lien, you won’t be able to possess a clear title. Real estate law will require that you shoulder the unpaid debt, even if you’ve already closed the deal. A careful title search will reveal unreleased liens, such as undischarged mortgages or tax debts.

When buying a property, work with professionals with knowledge of real estate law. Pill and Pill PLLC in Martinsburg, WV, provides dedicated and skillful representation to clients when it comes to residential and commercial real estate transactions. Take the time to schedule an initial consultation with an attorney experienced in property law, foreclosures, title insurance, and financial services. To speak to a real estate law expert today, call (304) 263-4971, or message an inquiry to them via their website.