When buying property, many people have a long list of criteria that they would like to fulfill. Property is a big investment so finding the perfect space is important. Where will my kids go to school? How long will it take me to get to work? Is the neighborhood quiet?
Although it is important to find a space that feels like home- the most Important criteria is often left off the list. A GOOD TITLE OPINION.
When looking at property, you may assume that because it is up for sale that your purchase would be legitimate and that you will be the undisputed owner- but this is not always the case. Good title is a sale of property that is free of potential litigation to defend the validity of ownership; either by defects in the chain of title, outstanding claims by a third party, or any other disputed facts as to who the rightful owner is.
To avoid future litigation regarding the status of your property, it is important to get a good title opinion. First, the complete history of the property is complied into a summary called an abstract of title, which lists all title deeds, mortgages, and documents that prove the owner’s right to the property. Next, an attorney will complete the title opinion by using all documents in the abstract to piece together the full chain of title. This ensures that you will be free of future encumbrances and that there is no disputed information that would disrupt your ownership.
The attorneys at Simpson, Jensen, Abels, Fisher & Bouslog, P.C. are experienced in handling the complex process of a good title opinion. Contact us at (515) 288-5000 to discuss your title opinion with our firm.
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