Before You Buy Land, Know Your Rights

Title Insurance for Homebuyers

BEFORE YOU BUY LAND, KNOW YOUR RIGHTS People have land and others have plans to own land.

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Article Source The right of ownership He says the property is owned by whoever holds the title. Once you close a land deal for cash and have the title in your hands, it’s yours. “Owning land comes along with other things such as the caveat and if you are not paying property taxes and many association dues, your property can be taken away from you,” Kizito says.He adds that depending on the country in which you live and the laws there, the lien holder of a mortgage can quickly exercise the right to take the property, if not, they can seek for legal advice from courts of law.

The right of control Kizito explains that, within the law, the owner controls the use of the property. But you must follow the homeowner association bonds and restrictions you agreed on while buying.So, if you want to control your property and having various activities, you have to consider the agreement you made while buying, including the neighbours.

The right of rejection Kizito says once you get the title, it means you are the owner and do not have to allow anyone to enter your property who is not law enforcement with a warrant.

The right of disposition Kizito says the title holder can sell, rent or transfer ownership or use of the property at will unless you have a mortgage and that must be paid off to dispose of the property.