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How do you resolve title issues?
Many title issues can be resolved by filing one of three common documents: A quit claim deed removes an heir and clears up title among co-owners or spouses. A release of lien/judgment removes a paid mortgage or spousal or child support lien. A deed of reconveyance records payment of a mortgage under a deed of trust.
What happens if seller Cannot get clear title?
For instance, if the seller fails to provide an abstract of title showing clear title to the property, the seller has breached the agreement. This means that the damages to the party not in breach of contract will be for a set amount of money, which is often the amount of the buyer's deposit or earnest money.
How long does it take a title company to clear a title?
Process Takes Around Two Weeks The title process usually takes about two weeks. However, depending on the property and transaction type, this can vary dramatically. Your real estate agent or escrow/title officer can give you updates on the timetable as the closing progresses.
Can a house be sold without a clear title?
Can a House Be Sold Without Clearing the Title? Clouds on title, liens, encroachments and encumbrances. Generally, the law does not require a seller to warrant or clear title before a house sale closes. However, there are other reasons to ask for a clean slate before you sign on the dotted line.
What does not clear title mean?
quot. A clear title is a title without any kind of lien or levy from creditors or other parties and poses no question as to legal ownership. For example, an owner of a car with a clear title is the sole undisputed owner, and no other party can make any kind of legal claim to its ownership.
How long does it take to resolve a title issue?
Process Takes Around Two Weeks The title process usually takes about two weeks. However, depending on the property and transaction type, this can vary dramatically. Your real estate agent or escrow/title officer can give you updates on the timetable as the closing progresses.
How long does it take to clear a property title?
Process Takes Around Two Weeks The title process usually takes about two weeks. However, depending on the property and transaction type, this can vary dramatically. Your real estate agent or escrow/title officer can give you updates on the timetable as the closing progresses.
How long does it take to get title insurance?
Title insurance usually takes around 2 weeks to process, depending on the complexity of the title search. If it is taking the title insurance company more than that, you can follow up so that your policy gets processed at the soonest possible time.
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