|
Actions To Quiet Title In Michigan
Title
work is our specialty! In so many cases
there is either an individual, business,
or entity that stands in the way of a
final approval or a clear to close. For
instance, a title policy may include a
lien taken many years ago by a company
which your borrower may have never known
about.
There are several reasons
that this may occur; your borrower may have
purchased their home at a tax sale or through
foreclosure (sheriffs sale) or they may have
purchased their home by Quit
Claim Deed. In all of these cases the buyer
will obtain the property in “As Is”
condition. In other words, they will now assume
any liens on the property that the former owner
may have incurred.
Rather than just paying the lien or abandoning
the deal, you csan do yourself and your client
a service by referring them to an attorney who
can “Quiet
Title” and remove the lien altogether
days.
We Handle All Tri-County Purchases - Tax Sales or Auctions
Residential - Commercial
We Provide Simple Solutions to All of Your Real Estate Needs
Land Contracts - Deeds - Purchase Agreements - Closings - Construction Liens - Landlord/Tenant -
Evictions - Builder Disputes - Mortgages - Condemnations - Mortgage Foreclosures
Free Initial Consultation - Call Today 1-888-THAVRYKE (842-8795)
What is Title?
Title describes the rightful ownership of
property. When you purchase a home you are
purchasing title to that real estate. Other
individuals or entities could have claims
on the property you’re trying to buy.
There could be unpaid mortgages or liens for
unpaid taxes filed against the property, for
example, that “cloud” the title,
and prevent you from receiving “clear”
title to the
property.
One of the costs of financing your home purchase
is likely to be a title search initiated by
the lender. The lender will arrange for an
attorney or an abstract or title company to
search all the public records for any documents
or instruments that relate to the property.
Generally the seller is responsible for correcting
any defects - removing any “clouds”
- in the title so that he or she can convey
good title to you.
Your lender may require you to purchase title
insurance in order to insure against loss
should the title prove defective in some way.
|
