Posted by JoeS on February 28, 2002 at 13:49:52:
Here’s the drill; the title has to be free of clouds in order for you to sell the property with no clouds on the title. Sounds a bit redundant. BUT, if you want to buy the place with a messy title, you can keep it and use it as a rental for however long you wish. You can even sell it, as long as your buyer is aware of the title problems and signs an affadavit.
Should you buy a property with a cloudy title? It depends on what is on there. Talk with a title co. and have them explain to you the ramifications. I hope I did not confuse you. I still have a rental with a messy title. The liens on there will never go away, but I am making $600 a month positive on the place, and I know I can sell it tomorrow for a nice profit even with the title the way it is.