Understanding what is a clear title
When a buyer is going to purchase a property from a seller, both parties should legally be able to do that. So a title company can look into the chain of titles to look at everyone who has ever bought and sold the property to make sure all is legal.
This is basically proving that the seller has the ability to sell that property.
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Fernando O. Angelucci is Founder and President of Titan Wealth Group. He also leads the firm’s finance and acquisitions departments. Fernando Angelucci and Steven Wear founded Titan Wealth Group in 2015, and under his leadership, the firm’s revenue has grown over 100% year over year. Today,
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What does Clear Title mean? When someone goes to sell and someone goes to buy a property, they need to make sure that both parties have the ability and the right legally to do so. So what is usually done is a title company, or an attorney will go through the chain of title and we'll look at everyone that's ever bought and sold this property over a certain period of time, maybe 50, 75 or a hundred years to make sure that each one of those conveyances or those transfers of the property were legal. This is a way to make sure that you don't have just some random person saying, Hey, I'm going to sell you the Eiffel tower. And I own it, well it's okay. Prove it to me that you own the Eiffel tower and that you can sell it to me. So title is that way of proving that the seller has the ability to sell the property to you. Now, just because the seller owns the property doesn't mean that they have Clear Title. So say for example, they, the seller did not pay their water bills or do not pay their property taxes. Liens will be put on to the property, which will cloud title, meaning that it is going to be no title company will ensure that and will not. No seller will be able to sell that legally without removing those encumbrances or those liens and clearing the title.
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