Hunting for a house is not an easy task by any means. When you finally find the right one, you might feel the urge to sign on the agreement and close the deal immediately. Before you do that, hire a lawyer and get his team to carry out a title search on the house that you are planning to buy. While you might have gone through the name registry in AB or the corporate registry in AB, a title search will give you all the details and remove any ambiguity surrounding the legal ownership of the property.
Here Are Some of The Reasons Why A Title Search is Important
Helps You Verify the Ownership
There have been instances when an individual sold off a property to somebody and later, a dispute happened when his brother claimed that the ownership of the house belonged to him. In such a situation, the new owner of the house has to go through a lot of trouble unnecessarily. His only fault was that he didn’t conduct a title search before buying the property. Carrying out a title search helps you in verifying the ownership of the house you are planning to buy and ensure that nobody takes undue advantage of your trust.
Confirm The PIN
Confirming the PIN or the property identifier number of a house is very important before you sign the agreement and assume its ownership. If the realtor puts down an incorrect PIN, it will result in creating ambiguity around its ownership and could cause legal issues for you in the future. If you don’t get it corrected immediately, you could lose the ownership of your own house.
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