When you have a title to your property, this is a certificate that indicates ownership of the property in Long Island, Nassau County, Valley Stream, Hempstead, Hewlett, and the surrounding areas. But this only means that you own it; it does not mean that someone in the past might not have some claim to the property. This is where a title attorney from the Law Offices of Aaron I. Katsman, P.C. can be a major help. A title attorney will review the historical records of that property to look for things that would put a real estate transaction on hold. If something is found, a title attorney can help deal with the resolution of the title to ensure that it is clear, and the real estate transaction can move forward. Some also do other things as well, such as escrow services and more. Contact us when you are in need of a title attorney to ensure your real estate transaction goes through smoothly.
What Issues Can Surface with A Title Search
You might be wondering what kind of issues or problems might surface from a title search. Property boundaries can be a surprising source of issues. You might think that your property line is in one area, but upon searching things it is discovered that the property line is actually several feet away. This could mean your property either gains or loses area once the actual boundaries are known. In the same way, easements might be found that were not known that can drastically change the value someone places on the property.
While not as common, outstanding mortgages are sometimes found on properties. These are from previous owners, years prior, and the details were forgotten about by everyone, until the title search is performed and exposes the issue. Likewise, liens can come to the surface where the property was used to secure a loan. These liens and mortgages need to be dealt with before the current transaction can proceed.
Curing The Title to Move Forward
So, what happens if there is a lien that is discovered on the property? This is where your title attorney will earn their money as they will negotiate with the lien holder in order to get a release of the lien from the property. Or they can prove that there is a misspelling on documents from an earlier transaction and have these changed so that all names, dates, titles, and more are all spelled out properly. Having this clean title is important for all parties so it is worth waiting the time for a good title search to be completed.
With all of the challenges in a real estate transaction, the last thing that you want is to find out the property you are trying to buy or sell in Long Island, Nassau County, Valley Stream, Hempstead, Hewlett, and the surrounding areas has issues with the title. Working with the Law Offices of Aaron I. Katsman, P.C. and our title attorneys will ensure that you will have nothing to worry about. Contact us today to bring our attorneys to your side.