Wheaton Title Search and Title Insurance Lawyer

Real Estate Attorney Helping Clients Address Title Issues in Wheaton, Illinois

Real estate transactions are significant investments, so ensuring that a property's title is clear of issues is essential for a smooth closing. Title searches and title insurance can help protect buyers and lenders from potential claims or defects in ownership. To effectively address these complex aspects of real estate law, it is important to work with a skilled and experienced attorney.

The McCormick Law Firm, LLC provides thorough, hands-on assistance during real estate transactions. Whether you are purchasing a home, selling a property, or are involved in a complex commercial real estate transaction, Attorney Eron McCormick is committed to helping you resolve title issues as efficiently as possible. We proudly provide reduced-rate services for military members, veterans, and first responders as a token of our appreciation for their dedication. If you belong to any of these groups, please let us know so we can extend this benefit to you.

Understanding the Importance of a Title Search

A title search is a vital part of any real estate transaction. It verifies that the seller has the legal right to transfer ownership of the property. It will also identify any recorded liens, easements, or judgments that could impact the property's value or the buyer's ability to use it as intended. Common issues that a title search may uncover include:

• Outstanding Mortgages or Liens: A previous owner may have unpaid debts, which could create financial concerns for buyers.
• Boundary Disputes: A neighboring property owner may claim a portion of the land which could lead to potential legal conflicts in the future.
• Easements and Restrictions: Municipalities, private parties, or utility companies may have legal rights to access or use parts of the property.
• Clerical Errors: Mistakes in public records, such as incorrect names or descriptions, may create disputes over ownership.
• Unresolved Inheritance Claims: The heirs of a previous owner may come forward with claims to the property, complicating the sale.

Because these issues can delay or even derail a real estate transaction, we will carefully review each title report and work closely with you to resolve concerns efficiently. We will also ensure that you receive clear explanations and practical solutions to any issues that arise.

The Role of Title Insurance in Protecting Buyers and Lenders

Even the most thorough title search may not reveal every potential problem. Title insurance provides an additional layer of protection, as it covers buyers and lenders against losses resulting from undiscovered title defects, fraud, or legal challenges. There are two primary types of title insurance:

• Owner's Title Insurance: This protects the buyer against financial loss if an undiscovered title defect is found after the purchase.
• Lender's Title Insurance: This protects the mortgage lender's interest in the property so that the claim to the property remains valid.

Differing from other kinds of insurance, title insurance is a one-time purchase made at closing. The McCormick Law Firm, LLC will make sure that you obtain the appropriate insurance policies. We will review coverage details with you and address any concerns you may have.

Resolving Title Issues Before Closing

Title defects will usually need to be resolved before a real estate transaction can proceed. These issues can be complex, and they may require legal action, negotiations, or corrective filings. Our firm provides hands-on assistance to help resolve matters like:

• Releasing Paid-Off Liens: It is essential to confirm that previously satisfied debts are properly documented and removed from the title.
• Clearing Up Ownership Disputes: Conflicting claims regarding property ownership must be addressed through legal documentation or court proceedings.
• Correcting Errors in Public Records: We can work with title companies and government agencies to fix inaccurate public filings.
• Handling Missing Heirs or Undisclosed Claims: We can negotiate settlements or obtain legal judgments to clarify ownership of a property.

With a proactive and client-focused approach, we are here to take the stress out of resolving title issues. With our help, your real estate transaction can move forward, and you can ensure that your rights and interests will be protected.

Contact Our Wheaton, IL Title Insurance and Title Search Attorney

Title searches and title insurance are essential aspects of any real estate transaction. The McCormick Law Firm, LLC offers approachable, hands-on legal assistance to buyers and sellers throughout DuPage County. We have over 700 positive reviews across the web, so you can trust us to provide the effective guidance you need as you address title issues. Contact us today at 630-517-8570 to schedule a free consultation.