Misconceptions about property ownership: Part II

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Misconceptions about property ownership: Part II

Misconceptions about property ownership: Part II

Clouded Titles-

In my last blog post, I discussed the differences between the roles played by Grantors and Grantees and the legal issues resulting therefrom.

In this segment, I’m going to address the issues created when property owners confuse “legal title” and “equitable title” (as opposed to “complete title”) when trying to determine their defined role in the transaction to purchase the property; along with chain of title issues and responsibilities and obligations that enter into the picture as the scenario unfolds (or is expected to unfold at some point in time in the future).

Responsibilities, rights and obligations fall on the shoulders of BOTH the Grantor and the Grantee in the real estate transaction!

I can’t stress enough the idea of fully researching a property’s title BEFORE engaging in a real estate transaction, in light of the previous scenario I discussed involving mesne assignees. The only way to identify the existence of potential mesne assignees is by identifying whether or not the chain of title has been contaminated with “agent-nominees” at any point in time in the chain after January 1, 1995. Most home buyers look at what is only skin deep without realizing that the property’s title may have hidden defects not noticeable to even the most discerning real estate agent.

[CLOUDED TITLES]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

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