The property cannot close due to title issues -Don't let this happen to you.

The property cannot close due to title issues. Its disheartening when a home seller goes through the process of getting the property ready for market, the showing process, and the offer is accepted, the buyer pays for and has a home inspection, purchase and sales agreement is signed.. then the dreaded phone call comes in.. the sellers cannot close because...probate wasn't filed, or the deed is not written properly or any number of reasons. 

When it comes to buying or selling a property, there are many factors that can potentially delay or even halt the closing process altogether.One significant hurdle that can arise is title issues. These problems can become particularly common when selling homes after a loved one passes away, leaving behind a complex legal situation that needs to be resolved.

One of the most frequent title problems encountered in this scenario is the issue of probate. When someone dies, their assets, including real estate, are often transferred through a legal process known as probate. This involves proving the validity of the deceased person's will, paying off any outstanding debts or taxes, and distributing the remaining assets to the rightful heirs. If the probate process has not been completed or if there are disputes among the beneficiaries, it can impede the sale of the property.

Another situation that can lead to title issues after the passing of a loved one is when a property has been placed in a trust. Trusts are legal entities created to hold and manage assets, with specific instructions on how those assets are to be distributed. If the property is held in a trust and the trustee fails to properly transfer the title to the beneficiaries or if there are conflicts regarding the trust's terms, it can hinder the property's sale.

In some cases, the absence of a will can complicate the title transfer process. In the absence of a will, the property will likely need to go through the probate process, which can be time-consuming and require court intervention. Without clear instructions on how the property should be distributed, determining the rightful heirs and obtaining their consent to sell the property can pose significant challenges.

Dealing with title issues can be frustrating for both sellers and buyers. Delays in closing can result in financial loss, missed opportunities, and added stress. Truth be told,  it is crucial to work with experienced professionals, and  a qualified attorney who can navigate the legal intricacies associated with probate, trusts, and wills.

  Its a good idea for everyone to have a will and put their their home in a  trust. Even if there is a mortgage, this can be done, with some exceptions. Contact Lori Lincoln, an experienced Realtor  who can guide you and refer a qualified attorney.

Understanding these common problems and seeking expert legal advice can help sellers and buyers navigate these challenges and successfully close the property transaction.