Colony Title Associates

How Your Title Can Be Affected by Errors in Public Records

It’s important to make sure no errors in public records will interfere with your purchase of a property.

While you just purchased your new property, chances are your property is only new to you. Your property comes with a history and, sometimes, extra baggage you don’t even know it is carrying. During the closing process for your property, a title search will be conducted to determine whether or not there is any baggage like errors in public records or title defects that can affect your purchase and your property.

Why Do Errors in Public Records Occur?

This might be obvious to you, but any job performed by a person, and even any job performed by a computer, has a potential for error. Clerical errors or filing errors can have a surprising number of serious effects on the deed and add up to extra costs you weren’t expecting. Errors in public records can occur in one or multiple documents associated with the property like judgments, street assessments, sewer assessments, special taxes, and any other documents associated with your property. One example of a surprisingly common error involves the description of the property. Is the square footage of your home listed correctly in public records? If not, you may have difficulty getting the funding that you need to purchase the home, as banks will only offer you 80-90% of the home’s appraised value.

How Can You Prevent Errors in Public Records?

As most errors in public records occur because of human error, it is almost impossible to prevent them from occurring unless you yourself are a public official dealing with property records (and even then, you can only change the future, not the past)! You cannot control the past of your property or a mistake that was on a sewer assessment years ago. What you can do is work with Colony Title to get title insurance that will help you to protect your ownership of your property. Title insurance goes a long way towards negating the potential negative effects of errors in public records, as it can cover legal costs to defend your ownership and certain losses that could result.

A Title Company You Can Trust: Colony Title

At Colony Title, we will help you through the process of getting your property’s title and help you avoid the pitfalls of hidden costs while you buy your home. We are also well trained in identifying any and all errors in public records and helping you resolve them. We specialize in real estate title insurance in both Maryland and Washington, D.C., and we will perform an expert title search, check through all past documentation, and examine records for any fraud or forgery. For more information on how we can get you into the home of your dreams, contact us online or give us a call at (410) 884-1160. To get more updates on housing markets and how to get into your home, follow us on Facebook, Twitter, LinkedIn, and Google+.

 

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