Defect of title

The phrase to own “valid title” to property implies that an individual has the exclusive right to have and use a bit of property. For a title to be valid, that title should be freed from defects. If a title is flawed, a merchant of the property could also be needed to “clear title,” or remedy title defects, before the vendor completes the sale of their property to a buyer.

Various types of Title Defects Exist are :

• A superior claim to possession by another person or entity: A mortal, that is somebody to whom the associate owner owes a cash judgment, might have a superior claim to somebody seeking to get a bit of property. A mortal protects their interest within the property by filing what's called a lien within the county land recording workplace. A would-be merchant of the property should pay off or satisfy this lien before the client should buy the property.

• A mistake within the description of the property within the deed: A deed should accurately describe the property's boundaries. If the deed doesn't sufficiently determine a bit of property or inaccurately describes a bit of property, there's a defect within the title.

• Failure to record a deed: once somebody files a replica of a deed to their property with the county land recording workplace, the law regards this filing as having given notice to the whole world of the fact of the possession interest. Such notice is named "constructive notice," that means although the filing doesn't offer actual notice to a particular person, the law deems or construes that notice to be actual.

• The property is subject to a mortgage: If the owner took out a mortgage on the property and didn't record that mortgage, then the title is flawed. Whereas an emptor will assume a mortgage, which suggests purchasing the property whereas agreeing to pay off that mortgage, the client isn't needed to try and do this.