What Are Title Problems And How Can You Avoid Them?
You have been saving up for your dream house, working three different jobs since you were 20. Now, 15 years later you can finally afford to buy yourself a house. So you start house hunting and a few weeks later, you find a beautiful house that has everything you’ve ever needed and wanted so you pay them your hard earned money and sign the deeds and it’s finally yours but a few weeks later, when you’re moving your furniture and settling in, you find out that the legal documents that you had to sign when moving in were actually forged. You now can’t find the person who has all your money and you have the rightful owners of the property at your door claiming it belongs to them. This type of a situation can be absolutely devastating. What do you do? You didn’t even know something like this was possible. Read the list below to learn more about the different ways title problems can arise and how you may solve or avoid them.
Even though the list of owners who have owned your property prior to you may seem legitimate and perfectly normal, sometimes it is possible that one of the owners may have been an undocumented immigrant, could have been a minor, someone who was not in a healthy state of mind when the deed was made or even someone who claimed to be single when they were in fact married. These situations may actually affect the legitimacy of your property and therefore your ownership as well! You can hire a property dispute lawyer Sydney to do a title search for your property, so that you may solve this issue.
Boundary or survey disputes
Even if you have seen several surveys of your property before you decided to purchase it, you may later find that there are other surveys with different measurements. This can then mean a neighbor or someone else may have ownership over a part of your property. Nobody would want to pay full price for a piece of property and then happily agree to give a portion of it to their neighbor who claims that the boundaries are different. Problems may arise, and you must hire a trusted dispute lawyer to help you with this.
Problems with unpaid bills
Your previous owners, even though they seemed like genuine and good-hearted people may be quite sly. They may have many unpaid bills or even debts with banks but after they sell you the property, the banks or other financing companies may be after you and your property.