A title is a document that proves that you own property such as a home or a car. When you have a car loan your lender will usually have the title until you pay off the loan. When you buy a home you’ll buy title insurance to make sure your home’s title is clear and there are no liens on it. The title insurance company will run a title search to find out. Learn about how to make changes to a title here as well.
Divorce May Mean Changing Home Title
When a divorce occurs, it's important that the title be in the name of the person who will own the home going forward. And while the spouse who keeps the home may want the mortgage loan in only her name, it isn't critical to refinance to remove the other spouse's name. The spouse who no longer has any interest in the home should be the one requesting a refinance of the mortgage loan, not the spouse who continues to own and live in the home.
Real Estate Lawsuit Concerns New Construction
What happens if your new home gets built on the wrong lot? You may be involved in a lawsuit with the builder, mortgage lender, title company and real estate agent. To sort out who's responsible for what and to ensure that you get clear title to your new home, make sure to hire a good real estate attorney.
Hire Attorney To Resolve Title Problems
When your spouse passes away and the title to your home has the name of another individual on it, what can you do? One option is to offer to buy out the other party whose name is on the title to the home. Another option is to hire an estate attorney to resolve title problems.
Adding Friend to Property Deed
Adding a name to the title of a home in many states can cost almost nothing. But it's important to know the purpose of being added to the title of a home with a partner. While adding a name to a title might be easy, there are many other issues -- including tax implications -- that need to be addressed, too.
Name Forged On Deed
A homeowner put her father in charge of her property and finances while she was incarcerated. During that time, the title to her home was changed to the father. When her dad "acquired" the property, he could only have obtained title in one of three ways and none of them would have been legal. Ilyce explains how titles are transferred and concludes that someone must have forged her name
Refinanced Mortgage In One Homeowner’s Name, Title In Both Homeowners’ Names
What do you do if you purchased a home with a friend who ran into some financial difficulties, and the home was refinanced in the your name only? Should you have mortgage refinanced in your name only, even if the title is in both names? If you do, you will be stuck with all the financial responsibility of the refinanced mortgage while the friend has none.
Adding Partner To Home Title
A quit claim deed can be used to add a partner to the title of a home, but it's also important to mimic the protections a heterosexual couple would have in home ownership. The title can be put into a web of trusts for protecting both partners. There are also tax considerations when adding a partner to a home's title.
Real Estate Advice For Changing Title After Making Mortgage Payments
Buying real estate with family can be tricky. What can you do if you've made all the mortgage payments but you share the title with a family member? In trying to get a family member to change his mind about co-owning a home, it helps to view the situation from the other person's point of view. If the co-owner won't ultimately agree to be removed from the title to a home on whose mortgage he's made no payments, it may be necessary to file a lawsuit.
Selling Your Home Requires Proof Of Ownership
When you buy a property it's important to have your name on the title and mortgage, if you have one. If you buy a property with a family member and later decide to sell, but you have no clear documentation showing you're the owner, it could be a problem. Learn the legalities of determining a home's owner to enable selling a home.
Lot Line Dispute Could Lead To Claim Against Title Company
A new home buyer is informed by his neighbor that his lot is not as big as he was lead to believe. This situation is complicated and could lead to a claim against the title company. Some title problems may not be covered and some are always excluded by title insurance companies.