Maria Elena Casillas, Intero A Berkshire Hathaway AffiliatePhone: (408) 821-2649
Email: [email protected]
Email: [email protected]
To sell a home and transfer ownership to a new owner, the property must have a clear title. Clear titles are documents proving legal ownership rights for the property in question. Without a clean title, the sale cannot move forward, and both buyer and seller might face hefty fees.
Here are some of the most common questions about titles and title insurance:
A clear title is any title with no lien from creditors or anyone who poses questions regarding legal ownership. A clear title-holder is the true owner of the property, and no one else can assert a judicial claim against them.
Having a clear title can show the home has outstanding financial obligations, as it proves an owner can sell the property. Sale of property may become disputable without a clearly titled document or the proper ownership of the property itself. The existence of a lien can also possibly invalidate ownership.
Property title professionals can help find the details about ownership of a given property. The first stage in title clearing is title research, or title examination. During the process, the title company pulls the records pertaining to the title of the property from the local records office.
Depending on the age of the home and the municipality, title companies may conduct searches either through digital
If there are issues discovered during the title research phase, they are known as title liabilities or "clouds" on the title. These indicate any issue which could block an unopposed owner's ownership for a long time.
Title insurance protects a potential buyer or mortgage lender in the event there are clouds on a title. The seller typically pays for an owner's title insurance policy, but lender's title insurance can also factor into the equation.
Finding out about claims against a title can cause delays and incur expensive administrative fees, but an insurance policy can provide coverage for risks like falsified documents or flawed records.
Understanding title insurance and the risks of title defects will help you be a more informed buyer or seller. When in doubt, work with a real estate agent or insurance professional for more guidance regarding legal claim to a property.
You don’t need to do this alone. I am bilingual in English and Spanish, and I have been in the industry for over 20 years, after earning my degree in Business Management and successive studies in Human Resources and Technology. Never content to let my education lapse, I also received a certification in Negotiation Skills from Pepperdine University and attended courses at Stanford University. A leader in the field, I am a member of the Santa Clara Board of Realtors and served as a professional standards ombudsman for 8 years. I completed a term as the President of the National Hispanic Organization of Real Estate’s Santa Clara chapter in 2016, now serving as this organization’s National Vice President. I pursued additional in-depth training to achieve professional designations as an ABR (Accredited Buyer’s Representative), CRS (Certified Professional Specialist), and SRES (Seniors Real Estate Specialist), GREEN certification, and RCS-D (Divorce Real Estate Specialist). Far from being a meaningless alphabet soup, this demonstrates how proactive I am in pursuing the latest knowledge so that I completely prepared to satisfy all my sellers' and buyers' unique needs. I am committed to Excellence!
