I am having title issues buying a home from a seller than inherited the propery, what could it be?
Question: I am currently trying to purchase a home from and individual. This lady inherited this house from her father who past away in 2003. Since then she has tried to sell the house numerous times and with numerous buyers. The problem is obtaining a clear title from issues unknown. The actual title company told them that they did not actually understand the issues and they needed to find a real estate lawyer. That was 2-3 years ago and the owner never wanted to spend the money to determine the problem. The house has a 21k –mortgage and 4k in back taxes. I need help.
Response by Pratul Lakhotia: Real Estate Laws surrounding Title ownership, and the process of transferring ownership can be quite complex and also vary by State. Typically, when a sibling of a deceased parent inherits the house, the deed on the house is a 'Quit Claim Deed -- Joint Tenancy,'". The parents and the children are placed on title, and if any one of the parties passes away, the survivors gain remaining interest which is divided equally. It could be quite possible that this lady may have a brother, or another family member that may also be on title of the house.
All parties would need to sign the deed upon selling the house in order to release ownership, so she may not be able to locate the other person or be aware of their whereabouts. This is only one possible reason. There could be quite a few various factors that come into play. You should consult with a Real Estate Lawyer in your state in order to investigate the Title and take the appropriate steps to resolving this issue.
If you need help with a Real Estate transaction or have a property title issue, contact a Real Estate Attorney in your area.
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