Your Options For Dealing With Your Anderson SC Home with Title Issues

Common title issues in South Carolina can fall upon anyone, and they should not be a source of panic. Your Anderson home may be good to go and ready to sell, but one simple issue spotted by the title abstractor might put the deal to a halt. This doesn’t mean that you should lose hope in results coming through!

Read up on what a title means, common title problems you could be facing, and what you can do to combat them:

Definition of a title

An employed individual usually has an official job title as certified by a contract they sign upon employment. A title works the same way for your property.

It essentially signifies that legal rights, ownership control, and responsibility over the property falls to you. If any of these factors are questioned, you can immediately present your title as evidence stating that you are truly the owner of the property.

In the case of a corporation or married couple, property titles can also be owned by two or more people.

Common title problems

With the assistance of a lawyer and insurance, these problems can be avoided or solved entirely. Read up on them to see what applies to you:

Administrative Issues

  • Deeds filed with incorrect property addresses or names
  • Errors in legal property descriptions
  • Corrective deeds or affidavits can cure these issues
  • Judicial or administrative proceedings can step in if the former solution will not succeed

Judgments and Liens

  • Most common problem to be cured
  • Can come in the form of judgments to the property, mortgages, or tax liens
  • Liens may be issued by the following:
  • Creditors looking for you to settle debt as their debtor
  • Previous owners with bookkeeping issues who accidentally place you in charge of settling their liens
  • Can be resolved through judicial, administrative, or supplemental proceedings

Undiscovered Will

  • Arises when a deceased owner has not declared an heir
  • States may sell properties to you with an undisclosed will

Undiscovered Third Party

  • Can happen when a relative of the owner you bought property from has undisclosed claim to the property

Lost Title

  • Can be resolved by going to the county clerk and asking for a copy

Forgeries

  • Avoided by having a legal professional or team look over all documents

False Impersonation

  • Sellers may impersonate real property owners to make a quick profit
  • Avoid this by doing thorough background checks on sellers with a legal team

Try title insurance

Title insurance behaves much like health insurance does in Anderson. Title insurance best protects mortgage lenders and home buyers against title defects when a transfer of ownership occurs. Paying for title insurance ensures that should any of the above problems surface, the title insurance company will cover them.

Investing in title insurance is ideal even for problems that can occur months or years down the line. This means that the insurance can protect the new owner and lender of the property from sunk costs.

Here are the two types of title insurance:

Lender / Mortgage Title Insurance

  • Protects the lender and provides security for approving a loan with a buyer
  • Doesn’t protect the buyer by any means

Owner’s Title Insurance

  • Protects the buyer
  • Lasts as long as you or your heirs have interest in the property
  • Can last even after the property is sold

Three factors you can focus on

When trying to resolve any title issue, it’s best to focus on the following points so as not to overwhelm yourself with the process.

Check out these three factors below:

Title Examination

  • Must be examined by a reputable firm run by good title abstractors

Curative services

  • Run by individuals with a thorough knowledge of REO and state processes
  • Can accelerate title resolution

Title Insurance

  • Should always be seriously considered as the first means of protection

Sell to a professional home buyer!

“How do I sell my house fast in Anderson?”

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