Acquiring property is a cause for celebration. You may have acquired the home of your dreams or just purchased the perfect store front for your new business.
However, things can quickly become frustrating if someone also claims title to the property. Thankfully, there’s an efficient way to resolve title disputes in New York; it’s known as a quiet title action.
What is a quiet title action?
A quiet title action is a legal action filed with a court that seeks to establish sole title in the filing party. If the judge approves, all other claims to the property are quashed.
When can a quiet title action be used?
Quiet title actions are effective in a variety of circumstances.
They’re often used when property is transferred via quitclaim deed. A quitclaim deed only transfers the seller’s interest to the buyer, it doesn’t warrant against other claims to the property.
Quiet title actions are also an effective way to resolve property boundary disputes, claims of adverse possession, and to settle tax issues.
When can quiet title actions not be used?
Quiet title actions only protect against hostile title claims. They do not warrant against problems with the property itself. For example, if a buyer purchases a house that turns out to have a structural defect, a quiet title action is of no use.
Although they may seem like simple documents, quiet title actions are complex legal instruments that should only be drafted with the help of an experience real estate lawyer. Real estate law is notoriously slippery, and a seemingly minor error can have devastating consequences.