With a tremendous number of Commercial and Industrial properties in foreclosure and default, in the State of Georgia, there are a great deal of title issues that must be cleared prior to the subsequent resale or re-finance of these properties. Some of these issues will result in title insurance claims and following is the fourth most common error that continues to cause increased claims:
Judgment/Lien/Tax Problems – Another group of claims that we see with great regularity relate to tax issues. If the property is subject to a reassessment or the taxes are under appeal, you need to make the appropriate exception in the title insurance policy. Additionally, we would strongly recommend that you get a tax report for your transaction and that you do not rely on the county website to verify taxes. With regard to judgment liens, please make sure that all necessary names are searched in the lien indexes. Further, if a party is added to a transaction after your initial examination, please remember to run a judgment search on them prior to closing.
If you have any questions, or need help with your title insurance needs, please do not hesitate to contact Paxin Closing and Escrow, LLC, at 866-752-4445.
