1. What is a title deed in real estate?
Answer:
A title deed is a legal document that proves ownership of a property. It outlines the property’s boundaries, ownership details, and any rights or restrictions associated with it.
2. Why is a title search important before buying property?
Answer:
A title search confirms that the property legally belongs to its owner and has no liens, disputes, or claims. This safeguards the buyer from future legal challenges.
3. What is the difference between a title and a deed?
Answer:
Title: It represents legal ownership of a property.
Deed: A physical, legal document that transfers ownership from one party to another.
Read Also:
- https://quantumlawsolutions.com/10-questions-about-buying-and-selling-property-answered/
- https://quantumlawsolutions.com/5-common-questions-about-property-disputes-and-resolutions/
- https://quantumlawsolutions.com/15-key-questions-about-landlord-tenant-laws/
4. What are common issues that can affect a property title?
Answer:
Liens: Claims against the property for unpaid debts.
Easements: Rights granted to others to use part of the property.
Encumbrances: Restrictions or claims affecting the property’s use.
Ownership Disputes: Conflicting claims to ownership.
5. What is title insurance, and why is it necessary?
Answer:
Title insurance protects buyers and lenders from financial loss due to title defects, such as undisclosed liens, errors in public records, or legal challenges to ownership.
6. Is title deed transfer possible without the property being sold?
Answer:
Yes. Title deeds are transferred by giving, inheriting, or settlement in the course of divorce property settlements. Typically, the type of deed to be used here is the deed of transfer or quitclaim deed.
7. What is a dispute about the title to property?
Answer:
Disputes are normally solved by
Agreement through negotiations
Neutral third party mediation or arbitration.
Litigation: A court determines the rightful owner.