When pulling the title on a property, it's important to check for condominium ownership and related documents such as the master deed, bylaws, and rules. Title companies look for any outstanding dues owed to the Condominium Association, which can be liens on the property, as well as any rules that could affect the new owners.
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Real estate property taxes explained
When transferring property in Michigan, it’s important to ensure that taxes are current, as they become a lien on the property when the tax bill is issued. Failure to pay taxes will result in the deed not being recorded.
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Types of real estate liens
Lien on a title is a common occurrence and is typically caused by government or personal judgment liens. The process of obtaining a release can be complicated, and it may take time to get a payoff from the government.
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Types of real estate easements
This video discusses easements and the issues that can arise when dealing with them in real estate transactions. Easements are legal documents that give someone the right to cross a property to access their own property.
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