Mcalester, OK asked in Real Estate Law for Oklahoma

Q: Quiet Title? Can we lose our cash investment for land purchase, should someone come forward as previous owner?

We are considering purchasing a property with cash! We have heard we will need to file a quiet title suit after the purchase! The sellers (who acquired the property thru a tax sale 3 yrs. ago) guarantee a Warranty of Deed.

Could we lose the investment should someone come forward as previous owner? We understand it takes 10 yrs. before a clear title?

We know it could cost $2K-$3K for the filing! We are at a loss on how to proceed,,,, the property is perfect and in an awesome area.

Related Topics:
1 Lawyer Answer
Richard Winblad
PREMIUM
Richard Winblad
Answered
  • Edmond, OK
  • Licensed in Oklahoma

A: Require your owner to provide title insurance before you turn over money. A quiet title could be much more expensive. Use an attorney or closing company. Sounds like a risky investment.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.