Clear vs. Marketable Titles – Real Estate Lawyer in Jacksonville

House hunting in Jacksonville Florida is an exciting yet challenging undertaking. Real Estate Attorney in Jacksonville Florida.

You may have found your dream home only to learn that defects are noted on the title.

In this event, what are your options?

A real estate attorney in Jacksonville Florida can explain the main differences between a clear and marketable title.

A clear title is considered one in which there are no encumbrances found during a title search.

A marketable title, on the other hand, is one in which impediments are found, such as zone restrictions, tax liens, or outstanding mortgages, for instance. Nevertheless, future buyers have the choice to agree to take the title as-is.

The main takeaway is that even though the title may not be clear, it is still marketable.

In layman’s terms, the property can be sold, and title ownership transferred – all without the buyer dreading future litigation.

Nevertheless, it should be noted that some marketable titles are a compromise. For example, buyers may need to give or take:

• A Lower Market Value – Due to Zoning Laws
• Tax Lien Payments – In Order to Clear Financial Burdens Associated with the Title

Unmarketable Titles

Some defects that would make a title unmarketable include but aren’t limited to:

• Impending Interest from Third Parties
• Grantor Name Variations
• Structural Violations

Improving Marketability

Another note to keep in mind while searching for homes for sale in Jacksonville Florida is the likelihood of discovering ancient defects in historical homes.

In this event, there is a way to clear the title and make it more marketable, according to the Marketable Title Act.  Any defects dating back to more than 75 years can possibly be removed with the help of a real estate attorney in Jacksonville Florida.

Of course, the circumstances vary, according to Campione Law PA.

→ The Take Home Message Marketable titles imply what the phrase describes:

A title is deemed “marketable” or acceptable to potential buyers of real estate properties, based on the concept that the deed is clear of impediments that would infringe upon one’s ownership rights.

Due to the complexity of real estate transactions and the possibility of unforeseen litigations when purchasing a home, it is always a good idea to consult a real estate attorney prior to signing off on a contract or making a deposit.

A real estate attorney in Jacksonville Florida understands the tools and mechanisms required to complete a thorough check on titles dating back to decades. In addition, real estate attorneys can help you confirm if a title is indeed marketable.

In doing so, potential buyers get an opportunity to obtain legal verifications that the property can be purchased – without risking future lawsuits.

Get Peace of Mind When Buying or Selling

Campione Law PA helps you sleep better at night when making the biggest investment of your life.