Introduction
Buying a condominium association unitor property within an HOA comes with unique title considerations. Title insurance plays a vital role in protecting buyers from unforeseen challenges, particularly those specific to community associations.
- Common Title Issues in Condominium associations and HOAs
- Unpaid Association Fees: Outstanding dues can become the new owner’s responsibility.
- Easements and Restrictions: Use restrictions tied to the property may not be clear upfront.
- Shared Property Ownership: Common areas can complicate title clarity.
- How Title Insurance Protects Condominium associationsand HOA Buyers
- Coverage for Unpaid Liens: Protects against prior unpaid dues or liens.
- Defense Against Claims: Provides legal defense for title-related disputes.
- Clarity on Restrictions: Ensures awareness of use restrictions or covenants.
- Why Legal Guidance Is Essential
An attorney can review the title policy and the community association’s documents, identifying potential issues that insurance may not cover.
Conclusion
Title insurance is a must for buyers in condos and HOAs. Strang Tryson’s attorneys can guide you through the purchase process, ensuring your investment is fully protected.
Contact us today for expert advice on title insurance for condos and HOAs.
