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I am about to buy a house and the bank is taking so long to clear the title is this normal?
The title exam is the most important part of the home buying process although its importance has been eclipsed by lax banking practices that have evolved over the last several years. It protects your biggest investment. Under normal circumstances it takes some time to have the title examined and then to address any issues disclosed by the title examination that need to be cleared. The title exam must be ordered from a professional. That professional is in the business of performing title exams that feed in from several lenders and law offices. Title exams are usually performed in the order in which they are received. The title exam isn't ordered until the loan has been approved. Once ordered, the title report should be returned within a two week period. If there were problems that needed correcting it will take more time to obtain the documentation needed to clear the title depending on the problem. Some problems may take weeks or months to rectify. However, you should be aware that historically banks blame any delays caused by their own inefficiency on the title examiners! "Title companies" that have sprung up over the past several years and that promise a 24-48 HOUR turn-around for title exams have given the home-buying/refinancing world the wrong impression about the importance of the title exam AND the time it takes to do it right. No one can promise a comprehensive, good quality title exam in that amount of time. Companies that provide "title exams" on the basis of a quick turn-around time do not use experienced title examiners with the necessary legal training. In many cases there is no lawyer involved in the process.
What else can I help you with?
is title clear?
is the title clear
DO you need a clear title before transfering the Deeds to a home?
The answer depends on the details. If the grantee, the person receiving title, must get approved for a mortgage then the lender will require a title examination and a clear title. If the transfer is going to a friend or family member with no consideration or is a cash deal, then the grantee may or may not arrange for a title examination. However, anyone taking title to real estate should have the title examined by a professional. They could be taking title to property with existing problems that will become their responsibility otherwise.
Does the owner of the property have to tell you if there is a utility easement on the property before you buy it if it runs the length of the back of the house and property?
It depends on the transaction. In most normal transactions the standard contract used by most Realtors will say something about clear title, a title commitment from the title company and other factors. If the buyer did not expect a clear title then it could be argued they received what they expected. The buyer should review the details of the title before signing the final documents to complete the sale. Any title insurance policy will show all easements and exceptions to a clear title. Full disclosure is best and expected but the fine details will really be based on the agreement signed by the buyer and the seller.
Is the title considered clear if the vehicle is financed through a bank?
A clear title is a title that has no financial obligation against it; therefore a title held by the bank is not a cleared title.
How can I obtain a title for a house?
To obtain a title for a house, you need to go through a process called a title search. This involves researching the property's history to ensure there are no existing claims or liens on the title. Once the search is complete and the title is clear, you can transfer ownership through a deed or other legal documents. It is recommended to work with a real estate attorney or title company to ensure the process is done correctly.
How can you sell your house after your wife died?
Typically spouses have a deed as tenants by the entirety. This means he inherits the house automatically when the wife dies. Filing a death certificate with the deed will clear the title.
Can a car have a clear title with a lien on it as well.?
No! "clear" means clear! No liens!
ANY LEANS OR JUDJMENTS ON BIKE?
IS THERE A CLEAR TITLE? Who has the title?
What is a clear title for a car?
i believe a clear title is where no one has a lien on it.like if you get a loan from the bank to buy a new vehicle they own the title until you pay it off then it's yours free and clear.
Where can one learn about title insurance?
You can learn about Title Insurance through your bank, if you are taking a loan out for a mortgage on your house, then you will need to make sure you have Title Insurance. You can also learn about whether you need it or want it through Title Insurance agencies that offer information about this specifically.
If you filed bankruptcy and have decided to sell your house Do you have to let the realtor know about the bankruptcy?
If you filed for bankruptcy and the title company knows about it, then you cannot sell your house. Your title is not free and clear so a buyer could not purchase. It also depends on the bankruptcy, you should talk to your lawyer.
Can property in the state of Texas be sold without a clear title?
Not real property such as a house or acreage. There is a process where a persson can sell a vehicle if the title is missing but not if there is a lien against said vehicle. If the issue involves liens or judgments they generally have to be "satisfied", which usually means paid in full before a sale is allowed.
