Purchasing a property can be stressful enough on its own. However, a dispute over the ownership of a property can make this process even more difficult. A title opinion can help you clarify your property’s ownership so that you can avoid legal issues in the future. But what exactly is a title opinion- and how do you know if you need one? We’ll explain in the article below.
What is a Title Opinion?
A home title seems simple enough. However, in certain situations, the exact owner of a property can still remain unclear. (Read on for a few common examples.) A title opinion is a document in which a lawyer gives their opinion on the ownership of a property. The lawyer will base this on property records, as well as information in the current title. Getting a title attorney can help you avoid legal disputes when purchasing certain properties.
Probate Issues
Probate issues are a common reason to seek a title opinion. Essentially, this happens when a homeowner dies and a dispute arises over who owns his or her property. While this is typically an issue for people who have passed away without a will, probate issues also happen if a will’s contents are unclear or contested.
Power of Attorney Issues
Power of attorney can be a broad concept. Because of this, there can be issues with POA on a home title. A title opinion can help to clear up misunderstandings and give legitimacy to a home purchase.
Other Reasons to Get a Title Opinion
There are plenty of other reasons to consider a title opinion. If liens or judgments have been filed on the property, then a potential buyer can use a title opinion to ensure that they aren’t responsible for any outstanding debts. These opinions can also be used to trace the chain of a home’s title- providing buyers with valuable information before they continue with their purchase.
Contact a Real Estate Attorney Today
Whether you need a title opinion or simply need a lawyer’s advice on your property, a real estate attorney can help. The Oracle Legal Group has decades of experience fighting for real estate issues. Contact us today to learn what we can do for you.
