Situations exist where two different parties may feel that property belongs to both of them. The quiet title process aims to determine who is the true owner of that real estate.
Understanding how these determinations are made may give you some insight into any steps that you may need to take or questions you may need to ask before proceeding with the quiet title process.
How can a property’s true ownership be determined?
Title companies or real estate attorneys will generally pull the deed to the property as the first step in a quiet title action case. When analyzing the deed, they’ll see if the mortgage payoff has been recorded. They’ll also look to see if there are any liens on the property, which can happen if someone fails to pay taxes or there’s a breach of contract judgment.
Any outstanding liens or inaccurate information on the property’s deed will need to be addressed before there’s an assignment of true ownership.
What are some reasons quiet title action is pursued?
A situation in which someone might pursue a quiet title action is during the probate process. A New York executor may initiate a quiet title action before liquidating property to turn over proceeds from the sale to heirs. They may also initiate such proceedings to determine an heir’s rights to the property.
A buyer in a real estate deal may also initiate a quiet title action to verify a party’s authority to sell a property and to ensure that there is a clear deed before closing on a home.
A neighbor who believes that a shared driveway may actually be theirs (instead of the homeowner staking a claim to it) may also pursue a quiet title to verify who it legally belongs to.
Unresolved real estate matters can cause unnecessary strife and can be financially draining. The best way to minimize potential legal and financial exposure involving real estate is to address matters head-on. Is pursuing a quiet title action the appropriate course of action for you?