If a title defect is found just before closing, how long does the seller have to correct it?

The correct timeframe for a seller to correct a title defect found just before closing is 30 days after discovery. This is important because it allows the seller a reasonable period to address any issues that could affect the transfer of property ownership. A title defect can range from unknown liens, claims, or even issues arising from the seller’s own past actions, and rectifying these can be complex.

By having this 30-day window, both the seller and the buyer can work towards a resolution without abruptly delaying the closing process indefinitely. Understanding the implications of this timeframe in real estate transactions is crucial, as it ensures that buyers receive a clear title and can proceed with confidence post-closing. Moreover, this rule allows buyers to trust that sellers are held accountable for any title issues that may surface right before the transaction is finalized.