Under certain circumstances, a party’s payment of property taxes can create a rebuttable presumption that the party has title, or ownership, to the property in question.
In Tennessee, property owners can control the use of real property through the creation of restrictions known as restrictive covenants and equitable servitudes. These restrictions can be made to “run with the land” and restrict a property’s current and future use, even after the property passes into the hands of subsequent owners.
When working with real estate, disputes often arise in cases where a trespassing non-owner has been in possession or use of another party’s property. In these situations claims for adverse possession may be raised by the non-owner to gain title to the contested property.
After a lawsuit is filed, potential defendants are entitled to be given notice of the lawsuit to quiet title.
One of the most common questions we get at Wooden Title & Escrow is: What is the difference between owner’s & lender’s title insurance? Both policies protect the recipient if there’s a defective title.
In just about every state, the buyer is required to pay for the loan policy, or lender’s title insurance. However, the party responsible for paying an owner’s title insurance policy can vary from state to state. Your lender will usually include this information as part of the loan application and closing process.
Tracy Wooden has been an attorney and Certified Public Accountant for decades and warns that not filing your taxes could prevent banks from approving loans for a house or car.
Wooden Title & Escrow, LLC offers the superior protection of the Homeowner’s Policy of Title Insurance, delivering more complete risk coverage, which translates to greater peace of mind for homebuyers. Buying a new home is one of life’s most gratifying experiences and might be the biggest investment you will ever make. As you approach closing day, however, all those details can be overwhelming. It’s easy to overlook the single most important step in the entire process – the purchase of title insurance on your wonderful new home.
Wooden Law Firm has a specific division completely dedicated to Real Estate Law – Wooden Title & Escrow, LLC. Our real estate legal team is an authorized policy-issuing agent for Old Republic Title Insurance Company. If you’re looking for title insurance or are buying a home or commercial property, contact Wooden Title & Escrow today to learn more about how we can help with the process.
Title Insurance is a means of protecting yourself from financial loss in the event that problems develop regarding the rights to ownership of your property. There may be hidden title defects that even the most careful title search will not reveal. In addition to protection from financial loss, Title Insurance pays the cost of defending against any covered claim.