Residential and commercial closings in Florida are governed by a variety of laws, regulations, and guidelines. But despite all the legal oversight that can be necessary, trouble most often stems from the property's title, its defects, and interested third parties. If you are not entirely thorough with how you prepare for your real estate closing, an overlooked issue could easily derail the whole process.
Four title issues that could suspend or prevent a real estate closing are:
- Lack of legal notices: Florida law requires just about any transaction involving or work done on a piece of property be recording in county records. The transparency of the records is supposed to let people know if there are any "dark spots" on a title, such as an ongoing deal or renovations currently under way. If a spot does exist on the title that you didn't know about, you will need to sort that out before finalizing the closing.
- Double deeds: You would be surprised how often two people claim to have deeds or legitimate titles to the same piece of land or real estate. Florida's common source of title legal statute requires disputes of multiple deeds to be settled by determining which party has the "more valid" deed. A careful trace of the deed's history is necessary.
Debt add-ons: Read any deed or title you are interested in claiming
very carefully and with an attorney's assistance. If there is a debt owned on the deed by the seller, there is probably a clause within the deed somewhere that says the buyer accepts full responsibility for that debt. You don't need to sign any separate document that says in clear language "I accept this debt as my own" for this debt-laden deed to be valid, either.
If you require legal assistance to get through your real estate closing without a hitch, contact the Law Office of Conrad Willkomm, P.A. Our Naples real estate attorney has successfully managed more than 1,000 closings throughout his career. Get that caliber of experience on your side by calling