While a clear title is one that is not burdened with defects such as liens, a "clouded" title has liens filed upon it that prevent the clear and smooth transfer of property. Both parties have every reason to look into issues such as unresolved liens and undischarged mortgages that might sabotage a sale. Instances of mortgages that have not been discharged can be quite pervasive after years of refinancing waves when attention may not have always been focused on properly recording property transactions with the registry of deeds. An alert real estate agent is aware of this possibility and makes sure that the closing attorneys look into such matters as soon as there are signatures on the contract. Hint: Title insurance insures against financial loss from defects in title to real property and from the invalidity or un-enforceability of mortgage loans.
Posted by Augusto 'Augie' Neno on
Leave A Comment