Dealing with a Flawed Property Title
When you purchase a property, one of the most important steps that must be completed is a search of the public records for any problems related to the property’s title. This search is designed to find and correct any unresolved legal or financial issues before you may take ownership of the property. It is not uncommon for title searches to uncover some minor issues such as an unpaid balance for some construction or renovation done to the property in the past, in which case the appropriate party will be able to fix before it becomes your problem. However, there are some cases in which major problems are revealed either during this search process or, in some unfortunate cases, after ownership of the property has been transferred to you. If the title is bad, you cannot legally own the property.
Common Issues with Property Titles
In the more problematic cases, major issues can prevent you from purchasing the property you have your heart set on. Some common issues associated with property titles are as follows:
- Omissions in deeds
- Undisclosed heirs
- Back taxes owed
- Building violations
It is imperative to resolve any issues with a bad property title before a purchase is made on a property. Foreclosed homes, in particular, are more likely to have outstanding issues.
Contact a Real Estate Attorney in Dallas Today
If you have encountered a difficult hurdle in your path to purchasing a new property, the Dallas/Fort Worth real estate attorneys at Gagnon, Peacock & Vereeke, P.C., can offer assistance in getting you past any legal obstacles. Call our Dallas office at (214) 824-1414 to discuss the particulars of your case with an experienced attorney today.