Real estate transactions can be plagued by title defects

When you purchase a piece of property here in Delaware, you want to know that you own it without any defects to the title. It does not matter whether real estate transactions are for residential or commercial property, if there is something wrong with the title, you could end up with problems down the road. For this reason, a careful examination of the title needs to be done, and if any issues are found, they require correction right away.

In fact, you may want to delay the closing to any transaction until after the defects on the title are taken care of properly. Certain defects in the title could mean that another party has a claim against the property you want to buy. For example, if an estate was not properly closed or title was not properly transferred, you could encounter issues.

In other cases, the mortgage liens from a prior sale were not properly cleared, and it may appear that money is still owed on the property. Other liens such as tax liens or mechanics liens could also exist. There could also be issues with the boundary lines of the property. It may be necessary to engage in litigation in order to ensure that you receive a clear title to the property.

When you decide to purchase property, you more than likely took the time to find the parcel perfect for you. The last thing you need is for a title issue to jeopardize what you have planned for the property. In order to help ensure that you receive a good and clean title, it may benefit you to involve a Delaware attorney who handles numerous real estate transactions.



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