A Full Title Search is usually completed when purchasing a property. In Connecticut a full title search must be searched back at least 40 years prior. It will also check for any open mortgages or liens that are still considered open on the property per the Connecticut Standards of Title. A full search will also include easements, covenants, conditions, and restrictions (CC&Rs), agreements, and maps that will affect the property in question.
WHY IS A TITLE SEARCH IMPORTANT?
To initiate the home-buying process, the initial step involves identifying the owner of the property you wish to purchase. It is crucial to be aware that any existing debts of the current owner will be associated with the property, and they might resurface post-closure. This risk is particularly heightened if the title search is overlooked or fails to uncover pertinent information. Additionally, the current owner may lack awareness of any potential claims against the property.
COMMON PROPERTY TITLE PROBLEMS WHEN BUYING A HOUSE
Acquiring a home is a momentous occasion, and anticipating potential challenges is essential. Connecticut title insurance plays a pivotal role in safeguarding against adverse scenarios. Here are common issues that may arise during the property title search process:
1. Errors in Public Records:
Human errors in public records can impact your homeownership rights. Clerical or filing mistakes might affect your property’s deed or survey, necessitating financial efforts to rectify.
2. Illegal Deeds:
Despite a seemingly sound title chain, a prior deed may have been executed by an undocumented immigrant, a minor, someone of unsound mind, or an individual reported as single but is married. Such instances could affect the enforceability of previous deeds, impacting past and potentially current ownership.
3. Missing Heirs:
In the event of a homeowner’s death, property ownership may pass to heirs or those specified in the will. However, missing or unknown heirs at the time of the homeowner’s death, or family disputes over wills, can complicate property rights.
4. Forgeries:
Forged or fabricated documents filed in public records can obscure rightful property ownership. Discovery of such forgeries may jeopardize your right to the property.
5. Undiscovered Wills:
In cases where a property owner dies without an apparent will or heir, the state may sell their assets, including the home. Despite assuming ownership rights, the deceased owner’s will may surface later, potentially endangering your property rights.
6. False Impersonations of Previous Owners:
Similar names can facilitate the false impersonation of a property owner. Purchasing a home once sold by a false owner poses a risk of losing your legal claim to the property.
7. Historic Oversights & Requirements:
Properties in historic or protected districts may have specific restrictions on home upkeep. While buyers are generally aware when purchasing in such areas, these regulations will appear in a title report. Buyers should carefully consider these constraints, typically regulated by a local committee.
HOW DO TITLE SEARCHES IDENTIFY WHO OWNS A PROPERTY?
A title search carried out by Fusion Title Search generally encompasses documents related to the property filed within the preceding 40 years. This involves a thorough examination of past deeds, wills, and trusts to verify the proper transfer of the property’s title across various owners. Our goal is to confirm the legitimacy of the seller’s ownership and to identify any potential financial or legal encumbrances on the property.
