Common Title Defects That Can Affect Ownership
Spring is a popular time to buy property, especially here at the Lake of the Ozarks. Whether you are buying residential property, vacation property, commercial property, or a piece of land, purchasing title insurance is a crucial step in the process. There are a lot of different reasons you should purchase title insurance with Arrowhead Title, Inc , the Lake of the Ozarks most trusted title company . One major reason you should have title insurance is because there could be a defect in the title that you are not aware of. Here are some common title defects that can affect ownership. Seller Does Not Own the Property It may seem unlikely, but it is possible that the seller does not actually own the property you are trying to buy. You could be dealing with unethical sellers, or the property could unknowingly be in someone's will. When someone dies, and they leave property in their will, it is not uncommon for them to leave the property to multiple people/family members. In this...