New Jersey Real Estate Title Attorneys
The “title” to real estate means the owner has the right to its peaceful possession and use, free from the claims of others. The exercise of that right is, however, is sometimes limited by restrictions called “easements.” For example, to obtain electricity, sewer, telephone, and other service, an owner often gives the municipality or public utility the right to run its lines or pies across his or her property to the house. Other easements and restrictions often encountered relate to drainage of surface water, or access to rights of way such as for a jointly used driveway. A buyer should consider such restrictions before purchasing property.
An owner’s use of its property may also be limited in other ways. Deed restrictions and local zoning laws may apply. Almost all land is subject to real property taxes. If those taxes are not paid, the owner may lose its real property. The property may also be subject to other debts, such as special assessments or levies. If such debts are not paid, these obligations may create their own problems.
When purchasing a home, buyers should be aware of the right to occupy it without interference that may later arise and affect the ability to sell or mortgage it.
After signing a contract as a buyer, it is necessary to satisfy yourself that the seller can convey to you title to the property as the contract requires.
Title insurance does not eliminate the need for an attorney. Although it may protect you against financial loss and the possible expense of defending your title in court, it does not lesson the importance of your attorney’s advice. An attorney can advise you about whether and how to obtain title insurance as well as its terms, exceptions, and limitations. Title insurance does not cover zoning or environmental issues at all.