Title Matters
Be aware of issues with your title
Encroachments by your
property onto another's, or by another property across a portion of your
property, can lead to future litigation, difficulty selling
your property at a later date, or unanticipated interference with your "quiet
enjoyment" of your propertyEasements across another's property, or
in favor of another across your property in order to gain access to his
or her property, are also potentially very important. . Most of these situations
can best be remedied during the Title Review period of the contract for
sale and purchase of the property, or can be lessened by buying additional
title coverage prior to closing.
Mineral rights to your property for the benefit of others
Most of the mineral rights to Denver Metro area mountain properties were
given to or purchased by someone other than the property owner long ago.
Some, like those purchased by the Union Pacific railroad to assure the
railroad a convenient source of coal during the construction of the railroad
and beyond, have little effect on the property or its future salability.
Other cases, where mineral rights were granted more recently, or were reaffirmed
in the past 50 years, require closer examination of the ownership rights.
Title companies offer varying degrees of protection against the possibility
that someone may choose to exercise their right to extract minerals from
your property. However these companies are sometimes reluctant to offer
you the endorsements to your title policy, which would afford you the best
protection. When buying a property where recent mineral rights have been
granted or reaffirmed, it is wise to consult a good local real estate attorney.
Well and Septic Issues
Factors such as potability, water quality, flow and recovery rate, and storage
capacity are issues which can lead to significant costs at a later date.
Make sure you or your broker is well (no pun intended) versed in these
matters.
A Word About Location
The following factors will have a profound effect on your present and future
enjoyment of the property, its rate of appreciation, heating costs, accessibility
in adverse weather conditions, and commuting time to Denver International
Airport or your job:
Using a seasoned mountain area real estate professional will help you evaluate
and address these issues. For more information and advice on any of these
issues, please contact us at 303/674-7674.
©
2004 Harris Reiter: All rights
reserved.
