QUESTION
How can I be sure everything is free and clear so I can proceed with selling the property?
Asked on Sep 14th, 2015 on Bankruptcy - Illinois
More details to this question:
I own a piece of land that is 2.57 acres that I inherited from my father when he passed away in 2013. At that time, there was a lien on the property from an incident back in 1988. I worked with an attorney back in 20004 and again in 2008. My understanding in 2008 there was no lien showing at that time. I now want to sell the piece of land, but want to be 100% sure that I do not have to worry about this previous lien coming back to haunt me. Also, in 2004 the attorney I used went through a title company to put everything into my name. I believe at that time there was no lien showing against the 2.57 acres, but in the state they could renew the lien up to 20 years which would have been 2008. Thank you!
1 ANSWER
General Practice Attorney serving Belvidere, IL
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Law Offices of Henry Repay
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You will need to provide title assurance to a prospective buyer anyway, so your closing attorney will simply want to go ahead with a title order. Your attorney will want to consider the title work that you received in 2008. If everything was properly taken care of in 2008 and there have not been any new issues since, there should not be any issues. If, however, anything comes up now that existed back then, your policy should provide you coverage.
Answered on Sep 22nd, 2015 at 7:21 AM