Title issues--do you have transferable title?

I encountered an interesting issue last week in a rather complicated and somewhat melodramatic transaction I'm trying to close. A small 3 acre parcel of land had been split off from a much  larger parcel and is about to be sold. The biggest obstacle to closing the sale was determining whether the smaller parcel had been legally split from the larger parcel.  Based on my experience and that of my counterpart, the parcel did not appear to have been properly subdivided and a quick transfer of the property was thrown into doubt.

In northern Ohio you have to have a subdivision plat, and there is a lengthy process you have to follow with the county before a parcel is legally subdivided from a larger parcel. If that process hasn't been followed to the letter, an owner will not able to transfer the property to a buyer.  Going back to clean up title in this situation can postpone a closing for a lengthy period of time.

We got lucky in my transaction . The local law where the parcel was located did not require the lengthy process that I'm accustomed to seeing here in northern Ohio. Rather a much simpler process was in place which had mercifully been followed.

Local laws will vary from county to county, whether in Ohio or another state. When considering the purchase of land in a locality that you aren't familiar with, it is money well spent to engage a local real estate attorney who knows the requirements of that county and who can properly advise you. Most problems can be corrected if you catch them soon enough.

4 comments :

Anita McCloud said...

Thank you for a great article. I also have found that probate differs from county to county.

f bruce abel said...

Enjoy your articles. Here's one from today's NYT that refers to the need to hire a real estate lawyer -- in NYC anyway.

I highlight your firm in www.donttrythisonyourhome.blogspot.com.

Deer Valley Real Estate said...

"When considering the purchase of land in a locality that you aren't familiar with, it is money well spent to engage a local real estate attorney who knows the requirements of that county and who can properly advise you."- I agree with this one. It's better to be sure and ask a lawyer for some uncertainty in purchasing.

investment property in perth said...

When I consider to buy a land that is split I make sure to check the title and whether the split was legitimate.