Bahamas Luxury Real Estate & Homes for Sale

What is Quieting of Property?

East Bay St And Winton

 

Owning the title of real estate means that you are the rightful owner of the property, whether you live on it or not. When you Quiet the title of real estate, you are ensuring there is truly one owner of the property. You want to make sure there are no claims or taxes against that property and no debates over the ownership. Disputing the ownership of your property means someone (an adverse claimant) has filed a lawsuit, therefore you would need to take legal action to rectify the matter. 

There are a number of reasons why a second party would dispute the ownership of a property. An example is when a property has more than one owner. A family member could dispute whether the property was properly handed over from the previous owner to the next. So, the co-owners would need to come to a legal compromise and understanding of who the title falls under. The whole point of a Quieting action is to soften or eliminate the claims towards the property. Once previous owners or rather, claimants, have been dealt with and there is one clear owner, the property is then considered Quieted.

An important reason why it would be beneficial to establish the title of property is for title insurance, because it is difficult to acquire title insurance on a property that has troubled ownership. How you handle the quieting of property is important. It is always a good solution to settle disputes through private agreements. If you decide to handle such disputes by yourself, make sure you do enough research. Determine the legalities and options you have to put the matter to rest. It is advisable to consult a professional estate agent who will be able to point you in the right direction, giving you sufficient advice on settling to the best of your ability. 

In the Bahamas, the law which governs Quieting is called “Quieting of Titles Act”. This Act is available online.  For details regarding the law, read the act and speak to an attorney with an encyclopedic knowledge of property law.

Leave a Reply

Your email address will not be published. Required fields are marked *