Part of selling or purchasing property in Chicago is performing a title search. A title search will uncover any defects on the title, including whether a third party has a claim to the property. If a title search uncovers a title defect, it may be possible to have the defect resolved through a quiet title action.
What is a quiet title action?
A quiet title action is a type of lawsuit. The intention of such claims is to settle the title to the property by removing the claim or objection uncovered through the title search where title ownership is in question. If successful, the plaintiff will be awarded full possession of the property and will be protected from future claims of ownership of the property.
When might a quiet title action be necessary?
Quiet title lawsuits are common when ownership of the property is disputed. For example, there may be a mortgage lender dispute, in which the lender’s interest in the property was not properly handled. In addition, the title owner may have died and there may be questions regarding the notification to the owner’s heirs of the sale. Or there could be a case of adverse possession in which a third party is occupying the property even if it is not legally theirs, with the intent of laying claim to the property. Finally, the property may have been unoccupied for a long time period, allowing third parties to bid on the purchase of the property.
Learn more about real estate litigation in Chicago
Ultimately, this post is for educational purposes only and does not contain legal advice. Those who want to learn more about property litigation are invited to explore our firm’s website for further information on this topic.