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Title Insurance lawyer NE PA

Title Insurance lawyer NE PA

Purchasing a home brings about great joy and excitement. However, the time it takes to get from contract signing to closing may feel like an eternity. The steps required to complete a home closing may be numerous, especially when a financing company is involved. One element required by mortgage companies is something called a title search. It may not seem like anything too complex, but it can make or break a real estate transaction. A Title Insurance lawyer NE PA from Hoegen & Associates, P.C can help you conduct the title search needed and guide you on how it can impact a home purchase.

Below is general information about a title search.

What Is a Title Search?

Before conveying a home to a new owner, a title company performs a search of the property’s history. The purpose of ensuring that nothing is encumbering the transfer between seller and buyer. Title searches look for recorded documents that mention the address. They also look for other court documents such as financial judgments and divorce decrees. There are some cases where a seller cannot sell the home because an ex-spouse needs to sign off on the transfer and receive half of the proceeds.

Why Is a Title Search Important?

A title search fulfills many functions. It ensures that the seller is legally allowed to convey the deed to a buyer. A search also informs the buyer of any potential restrictions on the use of the property. For example, there may be a fence around the perimeter that needs to be moved before closing can take place. An easement may grant a utility company the use of a large swath of land, making it impossible for the buyer to build a shed. These types of situations arise out of a title search and can be crucial to the closing.

What Are Common Title Issues?

When a title Insurance lawyer NE PA performs a search, they do so as a way to ensure that the full picture of the property is identified. Property searches may reveal co-owners that a buyer didn’t know existed. In some instances, a search may uncover a long-forgotten easement granting access across a large chunk of the land that a buyer cannot build across. 

Some of the most common title issues that come up before closing include:

  • Tax liens
  • Judgments
  • Easements
  • Loans
  • Boundary encroachments
  • Covenants, conditions and restrictions

These issues may halt a closing. Getting the keys to a new home requires many elements to come together before all is said and done. A title Insurance lawyer NE PA from Hoegen & Associates, P.C can help guide anyone through this stressful time and come out on the other side of a closing as a happy homeowner. Contact Hoegen & Associates, P.C today.