Over the years, several people may have owned the home and property you’re interested in buying. That leaves a trail of paper and documents, and if anything is left unsettled, unpaid, or unresolved, you can be left with an expensive problem.
A title search can reveal several issues, and title insurance protects you against anything that the search did not discover. Here are a few of the people who can cause problems with your title – or who can make a claim against your rights to the property.
- Missing heirs or relatives who had right to the property but could not be reached when the property changed hands
- An insane or mentally incompetent person who signed a deed
- A minor who signed a deed
- A former spouse of a previous owner whose name was never taken off the property
- A contractor who was not paid for his or her work on the home
- Previous owners and their creditors
- Someone who forged a signature or notorization