he transfer of real estate detector. Of course you could
involves particular dangers always go after the guy who sold
that are far more it to you in the first place,
pronounced that the dangers demanding a load of money from
involved in buying, say, a car or him. But this would do you no
a hair dryer – and not just good if (1) he sold it to you
because real estate is more under a quitclaim deed, (2) you
expensive either! One of the couldn’t find him, or (3) if he
primary dangers is that the didn’t have the money to pay you.
person who’s selling you the real In order to guard against this
estate doesn’t actually own it. sort of thing, several safeguards
This is more complex than you have been developed and if you’re
might think. Imagine shelling out considering purchasing real
a couple of hundred dollars for a estate you need to know how they
prime parcel of beachside real work.
estate only to have Paul
Plaintiff sue you five years 1. Title Insurance this is by far
later claiming that Joe Grantor the most commonly used. A title
sold that property in 1895 to his insurance company will have their
great-great grandfather first as lawyer check the chain of title
a passive investment, and then at the local land office to see
Mr. Grantor turned around and if they believe there’s a
sold the same property in 1896 to possibility that there might be
the guy that sold it to the guy someone out there with a claim to
who sold it to the guy who sold the property that’s superior to
it you. In that case a court yours (you can never be
might just award the property to absolutely sure). If they’re
Paul Plaintiff and you’d be satisfied, they’ll insure the
sleeping on the beach digging for title to your property.
buried change with your metal
2. Warranty Deeds - Warranty quitclaim deed without (i)
deeds will contain up to 6 carefully checking the chain of
warranties against title defects, title, and (ii) demanding and
and you can use them to sue. receiving a deep discount on
price to reflect the risk that
3. Statutory Deeds – some states your yard may be pulled out from
allow these types of deeds, and under you some day.
although they provide some
protection, they are not as DISCLAIMER: The following is
effective as warranty deeds. intended for reference only and
not as legal advice.
Don’t buy real estate under a
About the Author:
Real Estate Law in Plain English explains real estate law without the legalese.
Read more articles by:
Bob Miles
Article Source: www.iSnare.com 
