When you purchase real estate, you expect to get the full benefit of the bargain for what you have purchased. In other words, you expect the title to be free and clear of any claims. In some cases, you may find out before or after closing that someone is claiming use or ownership of some or all of the property.
One common title dispute is when someone else has placed a lien on the property. For example, if the previous property owner has unpaid taxes or HOA dues, the government and the HOA, respectively, can place a lien on the property. The lien would survive the transfer of the property. You should hire a title company to do a search before you close. The lien may be cleared for less than the amount through negotiation.
You may also find that there are unknown easements on the property. These give someone else the right to use some of your property. If you learn of this before the closing, you could negotiate a lower purchase price. If you do not find out until after closing, you can hold the title search company legally responsible in a lawsuit.
In some cases, the title dispute can result in an error in the title records or an incorrect description of the property. Here, you can correct the paperwork before the deal closes to save hassle in the future.
Regardless of the possible issue, you should purchase title insurance on the property to help protect you from unwelcome surprises.
Call a Los Angeles Real Estate Litigation Attorney
If you have any unwelcome surprises, you may be able to file a lawsuit. Call the Law Offices of Alan J. Carnegie at 877.261.4456 or contact us online to begin the process of resolving your real estate dispute.