Whether you are selling or purchasing commercial or residential property, it is important to understand some of the most common reasons that real estate transactions can get delayed. In particular, whenever you are buying or selling real estate, you should know more about real estate title disputes.
When it comes to buying and selling real estate, the title can end up in dispute. The following are the top five reasons your real estate title may end up in dispute.
1. Deed Conveyed Illegally
While it may be less common than certain other disputes, when a deed is conveyed illegally, it can result in a defective title. For example, if a deed exists because someone previously entered into a contract with a person who did not have capacity to consent to a real estate sale, a title dispute can arise.
2. Boundary Disputes
Boundary disputes are less common in urban and suburban areas, but they are a common reason that a title dispute or other delay can arise during the closing process for a real estate transaction.
3. Easements That You Did Not Know About
As you may know, an easement is a property law term that refers to another party’s right to use land for a specific purpose. For example, a public utility may have an easement on a certain property in order to access certain utility lines, or a private party (such as a neighbor) may have an easement that allows him or her to use a portion of your own driveway to access his or her driveway. Easements are not particularly common, and you might not be looking for the existence of an easement when you are thinking about buying property. However, if there is an unknown easement, it can delay your real estate purchase and can lead to a title dispute.
4. Public Record Errors
A title dispute can happen for reasons that are unintentional. For example, there may be an unintentional typographical error in the public record concerning a name or number that leads to a title dispute.
Contact a Southern California Real Estate Attorney
If you need assistance with a real estate transaction, or if you have questions about buying or selling real estate, experienced Riverside real estate attorney Marty E. Zemming can assist you. He has more than 17 years of private law practice experience representing clients in a vast area of legal areas, and is prepared to put that to work for you in your case. Contact Wagner & Pelayes, LLP for more information about how we can help with your real estate transaction.