Obtain a quiet title to ensure that no one has a legal right to make a claim against a piece of real property you recently acquired.
A quiet title is a type of legal action a person must go through in order to obtain title insurance for real property.
The main purpose of a quiet title is to verify that the title is clear and that there are no claims against it.
This process is very important if you purchase real property through a tax deed or because of a foreclosure.
There are other cases where this is also an issue such as the property was part of an estate.
This action is considered a legal judgment.
It is used to ensure that the person that is acquiring a property has full rights to the property.
When this action is taken, it must go through a court process.
It the court grants the judgment, the property owner does not have to worry about any claims made against the property.
Claims can be in the form of lawsuits or liens.
This process is very important to go through if you are acquiring a property in a non-conventional way, like through a foreclosure.
If you do not ensure that the property has a clean title, you could have trouble in the future.
Claimants could pursue you and the courts may rule against you.
If you protect your rights through a quiet title, you will not have to worry about this.
The property will be yours and any claims made against it will not matter.
The downside with a quiet title is that the process is extremely expensive and it takes a long time.
Before the court can award you this judgment, you must prove that no one else has any legal claims to the property.
If there are claimants that have real claims, there could be more delays.
The court cannot grant any judgment until all of this has been settled.
In addition to this, the costs are very high.
You are likely to pay thousands of dollars for this legal action.
If no one comes forward claiming rights, the court is likely to grant full ownership to the person acquiring the land.
If a quiet title is granted, any claims that may be valid are dismissed if they are not presented to the court during the time the case was open.
One problem with process is that if an investor has purchased a distressed property, he can be stuck in the court proceedings for months.
This means that he cannot sell the property immediately.
He will have to wait until he receives a quiet title judgment on the property, in order to purchase title insurance.
To investors, time is money, and a lengthy and expensive legal action does not go well with their philosophy.
There is an alternative to this process.
This alternative can offer the same results for less money.
It is also faster and is very effective.
If you are an investor or have recently acquired real property for any reason, you may have to go through the process of obtaining a quiet title.
First you should look into the alternative methods that are available and see if it's right for you.