When purchasing a plot of land for residential or commercial purposes, the deed is among the most important documents to verify during the transaction. Every deed should contain a legal description that defines the location, size and shape of the property.
Seemingly small mistakes in a deed’s legal description can cause serious issues. When it becomes apparent that an error is present in your deed, you should take proper corrective measures as quickly as possible.
How does a legal description error occur?
Human error and outdated measuring techniques can result in an incorrect description of a property’s size. A deed’s definition of property boundaries might even conflict with descriptions in other legal documents as a result of faulty communication. These mistakes born of negligence can give way to prolonged boundary disputes or financial implications. As one example, a faulty description that defines your land as being larger than its true measurement can lead to higher taxes or unfavorable loan conditions.
How can you correct an error in your deed?
In many cases, amending an error in a deed entails submitting a corrective deed to the court’s land records. Minor errors may only require the submission of an affidavit that notifies relevant parties of the error. For very significant or far-reaching mistakes, however, it might be necessary to draft a new deed entirely.
It is prudent to carefully review pertinent documents and verify the accuracy of all information therein when conducting a real estate transaction. Taking corrective action before a dispute arises can save you a great deal of money, time and effort.