Reviewing and Clearing Title in Chicago, Illinois
Buying Real Estate in Chicago is a Major Investment. Make Sure Your Home is Safe to Purchase!
Before any real estate transaction goes through, you want to ensure that the title is clear. The reality is that you can purchase Chicago real estate without having any knowledge existing rights or claims on the property you’re buying. It happens all the time, and can be very costly to the buyer! Therefore, it is extremely important to ensure that your title is free of liens and other legal encumbrances. Whether you're buying a house, condominium or multi-unit, our Chicago real estate lawyers can do a title search and help you resolve any outstanding title issues. We can also help you get title insurance as well, which provides coverage for future claims or future losses due to title defects which are created by some past event.
Clearing a Tile in Chicago
Having a title search completed is the first step to clearing a title. A title search helps you ensure that you’ve discovered any potential issues with the real estate that could affect your investment.
When performing a title search, a real estate attorney will review the following:
- 30 Year Searches
- All Public and Court Records
- Bankruptcy/Involuntary Lien Searches
- Current Owner Searches
- Delinquent Tax Searches
- Foreclosure Searches
- Full Title History Report
- Legal Descriptions
- Property Tax Records
- The Chain of Title
- Title Searches for Assignment or Release preparation
- Update Searches
The reason the search is performed is primarily to answer the following three questions:
- Does the seller have the right to actually sell the property?
- Are there restrictions or allowances which pertain to the use of the land (real covenants, easements, or other servitudes)? If restrictions exist, your ability to develop the land could be hindered in the future.
- Do any liens exist on the property which will need to be paid off at closing (mortgages, back taxes, mechanic's liens, or other assessments)? You absolutely must be aware of this so you aren’t saddled with extra costs.
Our attorneys will take the time to thoroughly deal with every potential problem that could affect your real estate transaction. A title search can unearth any number of issues that may put your transaction in jeopardy. To protect yourself, it’s crucial that you discover these issues before committing to the transaction on closing day.
Need Help Reviewing and Clearing the Title on Your Home?
Make sure your home is safe to buy today! Real estate transactions are expensive, and a major investment for you and your family. Having an experienced lawyer in Illinois helping you through the process by clearing the title and filing the appropriate documents can make your life a lot easier and protect your investment. At Suburban Legal Group PC, we are here to help you. Request a Free No-Obligation Real Estate Consultation Today!