Generally speaking, a title to an asset, such as real estate or a motor vehicle, outlines the people who own the property. For example, when you purchase a home, you’re issued a title to state that you’re the new owner.
Just the same, other transfers, such as those that occur upon a person’s death, will result in a title transfer.
Even when you know what should and shouldn’t happen with regard to the title of real property, this is far from the case across the board. Title issues are common, so it’s important to have a clear idea of what could go wrong, as this allows you to plan accordingly.
Some of the many types of title issues include:
- Disputes over how the title was acquired
- Liens, such as with a piece of real estate
- Disputes over deeds of trusts
You get the point. Title issues have the potential to sneak up on you, often when least expected.
Here are some of the ways that title issues rise:
- During a traditional buyer/seller transaction, as is the case when one party sells a home to another
- During probate, such as in the event that the deceased individual lost title to a property as the result of someone who wrote themselves into a will
- In the event that a lender begins foreclosure proceedings despite the fact that a loan is paid off or paid up as required
What happens next?
Regardless of the type of title dispute or why it moved to the forefront of your life, it’s critical that you understand your legal rights in California and the next steps in the process.
Your property, such as your home, is among your most valuable assets. Title issues can rob you of those assets, thus costing you both money and time.
If you suspect any type of title issue, take immediate action. Letting the problem linger will only make things worse.
It’s not always easy to get back on track, but you shouldn’t let anyone take advantage of you. Know your legal rights, defend them and do whatever it takes to get the outcome you deserve.