27JAN2024. Deed Review? Clouds…… Why?
Deed Review. In recent months of researching property for Broker Price Opinions we have had a rash of what we see as errors creating clouds on chain of title. So who has responsibility to be sure this information is accurate? Hell, I don’t know anymore for sure! I know the most impacted- well it is you!
I know this- we read it, map it, verify it, research it and form an opinion as to value as property sits- on the ground and on paper.
Few examples – would it bother you?
- Legal description was actually 20 miles away from physical location.
- Property was already warranted to one party prior to quit claim to second party- by days.
- Legal failed to include all of the property.
- Legal described a parcel then excepted it.
- Transfer from “Joe Smith” to “Joe Smith” with grant signed by third party.
- Obvious encroachment of neighbors improvements.
- Legal description changing size, then back, then change again.
- Waterfront not transferring in deed land to waterfront.
- Complete misunderstanding of easements!
- No ground access, no granted legal access.
- Access not the described granted legal access.
- $20,000+ lien unknown to owner. (Not including interest.)
- And the scariest – septic tank in bedroom, yes, no kidding!
Clean, I like it clean. Fix it now! Limit your chances of liability, raise no fear in Buyer, feel secure in your portfolio for your next generation !