Purchasing a home, rental property, or commercial building involves a lot of paperwork. Our real estate attorneys can help you throughout the closing process to ensure that the property you’re purchasing is free and clear of any liens and encumbrances of record in the County Clerk’s office and that all the necessary paperwork is created, executed, and notarized.
Our lawyers regularly complete simple and complex title searches in Mason, Bracken, Lewis, Fleming, Robertson, and other counties within the Commonwealth of Kentucky.
A title exam helps protect your equity interest in property you are buying by revealing defects (e.g. an incorrect or missing deed reference), liens and encumbrances (e.g. delinquent property taxes), and other title problems. It’s important to obtain a title exam, even on a small cash deal, because title defects that are unknown to you or not disclosed by the seller could end up costing you thousands of dollars or a lien holder could even foreclose on the property to enforce their recorded lien.
Also as agents for the Chicago Title Insurance Company, we offer title company services, including title insurance that can help protect your investment. Title insurance protect your equity interest in your property from claims or defects that were not disclosed in a title search (e.g. a forged document or signature). There are two main types of title insurance: Loan Policy Title Insurance for lenders and Owner’s Policy Title Insurance for purchasers.
Your real estate closing is when you will sign the deed, mortgage and note (if you’re going through a lender), and other required documents to close on the purchase of your property.
There are many benefits to having an attorney assist you during a closing. Your closing attorney will normally prepare the documents necessary to close, but they also are a valuable resource of information and can help explain the documents you are signing.
If you are going through a mortgage lender, you have the right to choose your own title attorney. Just tell them that you want us to do your closing, and they will forward the necessary information to us to begin the process.
If you are just doing a simple cash closing, we can still help you by preparing the necessary documents and by providing escrow services. Simply contact us for more information!
We also routinely prepare deeds for a variety of reasons, such as a simple cash closing between parties, love and affection deeds between family members where no consideration or money is being paid, and quit claim deeds where one party is giving over their interest in a piece of property to another (e.g. as part of the terms of a separation agreement in a divorce action).
We also prepare other types of deeds like purchase money lien deeds in which the seller retains a mortgage on the property as the buyer pays off the total consideration amount. These are often similar in effect to a land contract.
If you are purchasing a piece of property, it is highly beneficial for you to talk to us about getting a title search done on the property as well. This helps protect your investment from problems you wouldn’t otherwise know about.