5 Threats To Your Home Title You Need To Know About

Watch out for these threats to your home…

While many enjoy a lifetime of stress free homeownership, others can be surprised by the following issues, which can jeopardize their enjoyment and the rights to the title of their property.

Prior Owners

Without a thorough title search, the right documents and deeds being signed, and title insurance, other past owners, relatives and others, may have legal claims to the title, ownership, and ability to borrow against or sell your home. Make sure you have a good legal defense in advance.

Easements

These are rights of others to access your property, and vice versa. Many have standard easements, such as for utility companies to run lines, and check meters. Others may be more complicated, such as driveways that cross property lines. If you don’t protect your rights, you could give up a slice of your property. Or your access to your own property could be cut off.

Unpaid Bills

Failing to pay bills like property taxes, income taxes, and association dues can lead to liens against your property, and eventually foreclosure. Some have lost their homes for as little as a few dollars in overlooked fees. Watch your mail and accounts so you don’t become a victim.

Real Estate Fraud

Unfortunately, with the recent Equifax scandal, every American property owner needs to be on guard against attempts against the title of their homes. Armed with all of your personal information, criminals can take out loans against your property and even sell it from under your feet. Title insurance is vital for protection, as is monitoring your credit.

Code Violations

Building code violations can lead to big fines, and liens against your home. They may not directly lead to foreclosure, but could eventually be used as reasons to condemn or seize your property by eminent domain. At a minimum they may prevent you from selling your property or mortgaging it.

Summary

While, hopefully your time as a homeowner will be uneventful and enjoyable, it is critical to watch out for these threats to protect your rights, investment, and have the means to fight back if something happens.