Buying or selling property in Florida can be exciting, but it comes with important legal steps that must be taken to protect the interested party. One of the most critical is a title search, especially because liens and other claims can affect your ownership rights and financial liability.
What Is a Title Search?
A title search is a thorough examination of property records to verify the legal ownership of a property. It will uncover any issues that could affect the transfer of title. In Florida, this search typically goes back at least 40 to 60 years, depending on the county. During this process, a title company or attorney reviews deeds, mortgages, tax records, judgments, and other public filings to ensure the title is clear. A “clear title” means there are no outstanding liens, claims, or other legal problems that would interfere with your right to own or sell the property.
What Are Property Liens?
A lien is a legal claim against a property used to secure payment of a debt. If the debt isn’t paid, the lien holder can sometimes force a sale of the property to satisfy what’s owed. Common types of liens include:
- Mortgage Liens: The most familiar lien, tied to your home loan for unpaid payments.
- Tax Liens: Issued by local or state governments for unpaid property taxes.
- HOA Liens: Placed by a homeowner’s association for unpaid dues.
- Mechanic’s Liens: Placed by contractors or suppliers who haven’t been paid for work done on the home.
- Judgment Liens: Result from a court judgment against the property owner for unpaid debts.
Why Title Searches Matter
Without a detailed title search, you might unknowingly purchase a home with unresolved liens. That means you could inherit someone else’s debt. In Florida, most lenders require a title search and insurance before closing. This protects both the lender and the buyer from future claims against the property.
A good rule of thumb is: if a lender requires it, it’s worth it, so keep that in mind if you are paying cash for a property. A title search is more than a formality in Florida; it’s an essential safeguard that helps protect your investment and provides peace of mind. Always collaborate with experienced professionals to ensure your property transfer is clean, clear, and lien-free.
At our law firm, we offer the best of both worlds. When choosing the Law Office of Donna Hearne-Gousse, P.A. for your title, escrow, and closing needs, you’ll enjoy the benefits of a real estate attorney-based title agency with similar and in many cases lower rates than a standard title company will charge.
The Law Office of Donna Hearne-Gousse
(561) 582-5670