What Is Quiet Title Action In Nevada?
WHAT IS A CLOUDED TITLE?
One problem that may arise when you purchase or receive a piece of property is what's known as a "cloud on title". Clouded titles happen when unresolved issues that could affect ownership, or someone else is claiming to have a valid interest in the property, complicates the transaction. This can make it difficult to complete the real estate process. It is best to reach out to an attorney who is versed in these types of real estate legal issues.
WHAT IS QUIET TITLE ACTION?
If you have a concern that another party may attempt to claim a property you are purchasing or receiving, bringing a "quiet title action" may be considered. A quiet title action is a lawsuit with the intent of settling the title to a piece of property and will offer both clarity on who owns the disputed property, as well as protection from those who may try to claim it in the future.
By filing a quiet title action, you are stating that you have a superior claim to the property that is in question.
DIFFERENT TIMES IN WHICH A QUIET TITLE LAWSUIT MAY BE THE BEST COURSE OF ACTION:
- If a property has been unoccupied for some time and the title needs to be cleared.
- If the owner of the property has passed away, causing question of ownership.
- A lien, such as a mechanic's lien or judgement lien, has been recorded against the property to secure a debt owed.
- If a mortgage lender was improperly dealt with after the mortgage was paid off and the deed hasn't been reconveyed.
- Any other circumstance that leads to any sort of confusion as to claim of property ownership.
WHO MAY BE INVOLVED IN A QUIET TITLE ACTION BESIDES THE BUYER?
- Prior owners of the property
- Any potential heirs of the prior property owner
- Any potential lienholders such as an HOA, a.k.a. Homeowner's Association, Contractors, Utility Company, etc.
HOW LONG DOES A QUIET TITLE ACTION TAKE?
Typically, a quiet title action can take around 8 to 10 weeks to complete. Certain factors surrounding the dispute, such as court rulings on certain matters, could make it take more or less time.
If you have or believe your property purchase or receipt may have question in ownership in Nevada, please contact us for a Free Consultation.