How Your Title Company Handles Title Disputes

A title dispute arises when two or more parties have a claim on a specific piece of property. Some title disputes may arise from the previous owner of the land, and others may be from individuals who owned the property decades ago or even longer. Resolving these issues is necessary, and there are a few steps that are taken to reach a resolution. 

Researching the Matter 
In most cases, resolving title disputes Siloam Springs AR is completed when the title company researches the matter further. All documents related to the ownership of the land should have been recorded with the proper departments, and the title company will be able to locate these documents quickly. In some cases, the matter will escalate, and attorneys may become involved. Rarely, a matter will need to be resolved in court.

If the Matter is Not Resolved in Your Favor

Many title issues are discovered during a real estate transaction, and a buyer generally will only be approved for purchase if the title company attests that the title is clear. More than that, the title company typically will issue title insurance to the buyer. The title insurance protects you from financial loss related to legal costs as well as to the potential loss of the property if a dispute arises after closing. 

Most real estate lenders require a real estate buyer to purchase title insurance at closing, and they also require the title company to research the title history and to provide documentation that attests the title is clear. While all title companies offer these services, the level of service provided as well as the rate for the insurance can vary. Therefore, take time to research the options thoroughly before you make a final decision about which title company to use.

What to Do If a Real Estate Title Dispute Arises

Real estate often changes hands numerous times over the years, and most real estate transactions are completed without stress or drama. However, in some cases, there is a question about who owns the land or has rights to it. This may occur when one person passes away, and there is a dispute about who the title was transferred to during the estate settlement process. It may occur after a divorce or even because there are disputes over boundary lines between neighbors. 

What Can Happen During a Dispute 
Resolving title disputes Bella Vista AR is important because you could potentially lose the property that you believe is rightfully yours. There are financial impacts associated with title disputes. In addition, you could potentially lose the property and be without a home if the dispute is not settled favorably. 

What You Can Do
Title insurance is designed to protect you from title disputes, and it also can pay for some or all of the costs associated with a dispute. When you purchase title insurance, the title agents will thoroughly research title before you finalize the sale. Their issuance of insurance can provide you with peace of mind that the title is clear and ready to be transferred to you at the closing. However, in the rare event that an issue does arise, the insurance also can pay for all related fees and losses that you may incur. The title company also will work on your behalf to resolve disputes. 

While most people will not have to deal with a title dispute during or after their purchase, disputes can and do happen from time to time. Purchasing title insurance before closing is one of the best steps you can take to minimize the financial impact of this type of event and to ensure that the title is clear. Contact Elite title company for resolving title disputes and title insurance in Northwest Arkansas.

How to Resolve Property Title Disputes

Resolving title disputes Springdale AR is an important part of owning property. You must be absolutely certain what you are buying, and you must ensure there are no problems with the title on your property. Your property has a local record dating back to the moment it was built, and you must review those records with some assistance. A title research company will look into the paperwork on your property, and you can resolve disputes that are found deep within municipal records.

#1: Whose Name Is On The Title?

There may be several names on the title for a home that has not been edited or transferred properly. Certain title disputes occur when the wrong name is on a title, and there are other disputes that occur when names have not been added properly. A title research firm will help you find the people who are on the title currently, and other records can be researched to help change the title to your name.

#2: What about Deceased Persons?

A deceased person who still has their name on the title of a property must have their name removed using probate and death certificate records. Probate records will show who controls the estate of the deceased, and death certificates will prove that someone is dead. You may use these documents in combination to ensure that you are the only person listed on your title. There are several different documents you may use for title research, and the research firm will look into each document individually.

#3: What Paperwork Do You Submit?

Paperwork you submit to change your title can be completed by the title research firm on your behalf. You do not have time to go down to the records office yourself, and the title research company will ensure that all paperwork is submitted immediately. Taking several trips to the records office is a waste of time, and the title research firm makes one trip with the intention of getting everything done.

#4: How Much Will You Spend?

Title research companies charge for every document that is found and you will pay an extra fee for document completion. The small fee you pay for someone else to complete your documents is fair compensation when you send the title research company out on your behalf. You will spend some money on the research that must be done, but you will not spend too much. You would spend too much money and time on your own, but the title research company gets the job done quickly.

#5: How Quickly Can Research Be Done?

Research can be completed the next day when you make an urgent request. You have no time to run to the title office yourself, and someone will be dispatched the next day in extreme cases. You can expect your title research to be done in just a few days, and a complete report will be submitted once the work is done. The report shows every record that was pulled, which applications were filed and how much you spent on the research.

Title research will help you learn what you are purchasing when you find a new home, or you can look into the title for a property you want to buy. Title information will help resolve disputes and avoid expensive litigation in the future. Read More about Elite Title Company

Find Out a Reliable Company for Escrow Service

You need an escrow service means you need to go for third party money transfer. That is why you just cannot rely on any random company for this specific service. Try to find out an acclaimed company for the best escrow services northwest Arkansas. Here The Elite Title Company is one of the renowned one. This locally owned and operated company is popular among its customers for quality service and reliability.

Though it is a premier insurance company in this area, yet they do not charge high price for their services. If you want title insurance, you can contact this company. The Elite Title Company offers reliable title insurance plan.  They offer residential as well as commercial title insurance. Also Read more about Independent Title Company Springdale AR