A title search is an essential step when buying real estate in Florida. This process reviews public records to confirm the property’s legal ownership and identify any claims or issues.
Without a thorough title search, you risk purchasing a property with hidden legal problems. Although a title search helps protect your property rights, it can reveal complications that you must address before closing the deal.
1. Unpaid property taxes
Unpaid property taxes can create a lien against the property. If a previous owner failed to pay property taxes, the local government can place a tax lien on the property. It is necessary to resolve this lien before ownership can transfer to a new buyer. Failing to address tax liens can lead to serious financial consequences, including the possibility of losing the property. A title search helps identify these unpaid taxes, allowing you to resolve them before completing the purchase.
2. Undisclosed heirs
When a property owner dies without a clear will, heirs may have legal claims to the property. Florida state law outlines how property transfers to family members if no valid will exists. A title search may help you become aware of heirs who were previously unknown or not included in the sale process. These heirs could challenge your ownership, leading to legal disputes.
3. Errors in public records
Mistakes in public records can cause significant problems during a real estate transaction. Errors may include incorrect legal descriptions, misspelled names or recording mistakes. These errors can cloud the title and prevent a smooth property transfer. Identifying these mistakes early through a title search allows you to correct them and avoid delays.
A title search protects a buyer’s investment by uncovering hidden legal problems. Taking steps to resolve these complications will help you avoid financial risks and protect your property rights.
