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What is a real estate title, and how do they work?

On Behalf of | Apr 15, 2022 | Real Estate Titles, Residential Real Estate

Buying or selling a home is a major legal and financial transaction. This process can include various challenges, and both parties will have to complete certain requirements in order to complete it. If you are a potential buyer or seller, one critical thing you will want to understand is the real estate title. The transfer of the title is important, and it is helpful to know what a title is and how it works.

A title is essentially your personal ownership right to a specific Texas property. In order to get the title when buying a home, you will have to do the appropriate research to know whether you can rightfully own the property or if there is anything that could prevent you from taking ownership. Understanding what a real estate title is and how it could affect your specific goals may help you prepare for what is ahead, do your due diligence and have peace of mind.

Understanding the title to the property

When buying a home, the title to the property will legally transfer to you. Without the title, the seller cannot legally complete the transaction, and you will not be able to have true ownership rights. This is why the title search is a crucial part of the home-buying process. This process should uncover any limitations that would prevent you from securing ownership of the property, including liens on the property and other types of encumbrances.

Many buyers find it beneficial to secure title insurance. This protects your property rights and your investment in the home. If you have this coverage, it could shield you from future claims on your home. Before you sign on the dotted line or make any important decisions that could affect your future, you will want to ensure you understand the title and possible issues that could arise.

How to protect yourself

Because of the potential risks associated with buying a home, you will find it beneficial to do everything possible to protect yourself against the potential for problems and financial loss. A thorough title search and securing appropriate title insurance are two ways you can shield your interests and have peace of mind regarding your real estate decisions. An assessment of your case can help you understand what protections you may need and the legal options you have.