Untangling Tangled Titles: Homeownership, Property Deeds, and Estate Planning
If you are currently living in a property that you inherited but the deed has not been transferred into your name, you may be surprised to learn that, under the law, you are technically not the owner. This legal situation is known as “tangled title.” A tangled title negatively impacts a property’s current occupant in a number of ways. It can also harm generational wealth and even contribute to fraud. For many households, most of their wealth is tied up in their home. However, until a tangled title is resolved, you cannot take full advantage of your home’s value. Untangling a tangled title is often a complicated legal process that requires attorney assistance. There are costs, but the costs of not straightening out a title could be much higher in the long term.