You found your dream home here in Linwood. You negotiated and signed a purchase and sales agreement and went through the due diligence process before attending the closing and taking possession of your new home. Then, at some point, you either discovered or otherwise found out that something was wrong with the title to your property.
Perhaps someone came forward to make a claim against what you thought was your property. Now, you could face litigation to regain the rights you thought you had.
What kinds of things could go wrong?
The answer to that question is that many different things could come up after your closing that could affect your ownership of the property. Some of the most common issues that arise include the following:
- An accusation that a deed was executed under duress, fraud or undue influence
- The discovery of undisclosed lien, mortgage or judgment that was recorded
- An accusation that a deed, release, mortgage or satisfaction was forged
- The discovery of an undisclosed setback, boundary or party wall agreement
- Misinterpretation of deeds, wills or other instruments
- An incorrectly indexed deed
- An inadequate or erroneous legal description
- An improperly recorded deed
- An accusation that a deed was signed by mistake
- An heir of a previous owner comes forward
Another issue that could arise stems from a deed signed by someone who is incompetent, from a foreign country or otherwise unauthorized to sign the deed. This may include a deed signed by someone who had a falsified power of attorney.
What can you do about it?
First, you can't ignore challenges to your rights of ownership. If you cannot resolve the issue without going to court, you may need to file a quiet title action in order to have the court declare you the rightful owner of the property. This does come with some risks. The court could side with the defendant in this action. Your title insurance coverage may compensate you for your losses and pay your attorney's fees depending on your coverage.
Even so, you still need to establish your rights to the property. Without an in depth knowledge of real estate law, you could encounter problems in undertaking this task. It may be in your best interests to lean on the experience of the legal resources available to you.