Nevada residents are likely aware that the law governing the ownership and transfer of real estate can be incredibly complicated. Between the various types of land ownership, the many ways in which a piece of property can be conveyed, including sale, inheritance and trusts and the many different types of encumbrances that can be attached to land, there are a myriad of ways being a property owner can go wrong. One major problem that looms for anyone purchasing or otherwise receiving real property is that of “clouded” title.
Title is considered “clouded” when there is something irregular about a prior conveyance of the property, or there is the potential that another individual or entity has a claim to an interest in the property. These can result from poor recordkeeping, fraud, clerical errors or any number of other prior events that can later cause problems when attempting to sell the land or create a situation in which someone else lays claim to the property.
Due diligence dictates that anyone making the investment in a piece of real property do a title search prior to purchase. If this search turns up issues, there may be several options, including title insurance and thinking twice about completing the purchase. However, if someone has a piece of property and is fairly confident that a claim is superior to any others, an action to “quiet title” may be in order. In such a case, the property owner becomes a plaintiff in a lawsuit against all parties that may have a claim to the property, in order to have those claims adjudicated by a court, and settle the issue of legal title to the land.
Such actions can be complex, and should not be commenced without knowing what the likely outcome will be. Further, the law in Nevada will require the plaintiff in such actions to do a reasonable search for, and give notice to, possible claimants. Due to these facts, those contemplating a quiet title action may wish to get more information about real estate law.
Post Type: Q&A