Another valuable reminder: it is always prudent to conduct some form of due diligence when considering the purchase of any real estate, regardless of the type of interest being sold.
At a minimum, this should include a title search – a search of the public records – which reflects various recorded interests that affect the land. A title company can be hired to conduct this examination, the results of which are usually presented in a tract search report or a commitment for title insurance.
The fee is almost always negligible compared to the risks for misunderstanding, misrepresentation and outright fraud …not to mention the cost and angst associated with litigation.
Note: The views expressed are solely the opinion of the author.
Title Source: COA: Buyers had notice property was under lease | The Indiana Lawyer
Conceptual Source: COA: Buyers had notice property was under lease | The Indiana Lawyer; Richard Wilson and Hollie Wilson v. Charles M. Huff and Bonnie M. Huff, 13A04-1512-PL-2119
Image Source: Pixabay Volunteer Images
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