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If a person wants to ascertain the ownership of a piece of property, then he or she needs to have a legal document called “Certificate of Title.” This document helps in identifying a person’s ownership of the property by providing other relevant information that includes easements and buildings as well. Buyers find this an effective tool in order to make a decision if they would want to continue with a particular transaction or not. Below are answers to few of the more common legal questions about certificate of title: Can a person in Florida, file a motion to vacate the foreclosure before the certificate of title is filed, if his or her property is foreclosed and they did not file an objection for it neither before the sale happened nor after the certificate was issued?
In most cases, if the person did not receive a notice of the sale, it is only then that he or she would possibly be able to vacate the sale. Moreover, if the steps included in the foreclosure process were not followed, then a petition may possibly succeed. However, it’s ultimately the judge’s decision that would take the final call. Alternately, there are laws offered by many states that provide a chance to the homeowners to recover the ownership of their property after it has been sold and take their home back. Such laws are termed as "right of redemption” laws. This right of redemption is valid for six months in those states. However, Florida does not offer this right. So basically, once the certificate of sale has been issued, there is technically nothing one can do to reverse it. The bank has approved my loan for buying a home from a seller. When I get that money to buy the house, is it the seller’s title company who should I give the money to?
In this case, you would need to make sure that you have the certificate in your hand before you release the money to the seller. You should also ensure that the property you are buying has no liens on it. You should receive the certificate from the title company. However, in case there are liens on the house, it is the title company’s responsibility to pay the liens using your purchase money and then give the remaining amount back to the seller. Therefore, you must get in touch with the title company in order to know if there are any liens on that house before you decide to purchase it. Moreover, in such cases, you should also confirm that your bank is fine with the fact that you are transferring the money to the title company. This is because regardless of how the sale ends, the bank would hold you responsible to pay its loan back. In case the sale does not turn out to be a successful one, then it’s you who woes the bank its loan money. What is the procedure to fix a certificate of title if it has a typo in it? How long would it require for it to get fixed?
If the county register of deeds office has the authority fix a title certificate that has a typo in it, you could have the certificate fixed at that office. However, in case you find out that the typo could not be corrected over there, then the second option is to file a petition to ‘quiet title.’ You should possibly receive a speedy hearing if the court docket is not heavy. Usually, it takes a few weeks for this issue to get resolved. When you purchase a home or property the certificate of title has a very important role to play and therefore it is always a good idea to consult a legal expert before you get into a contract. If you need any clarification about your particular situation, you may wish to ask a real estate lawyer for legal insight based on an expert evaluation of your circumstances.
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