Title is like a chain on a bicycle. Every link must connect together by a deed in the correct order. If there is a missing link, the chain is defective and will require a repair. If there is a title problem your client will not be able to refinance their property until the defect is corrected.
Some common examples of title defects include:
- A missing deed or gap in the chain of title
- An outstanding lien or mortgage
- A property bought at a Tax Sale
- A borrower’s failure to probate an estate