Real Estate

Title: Understanding Property Titles in Idaho: A Homeowner's Guide

Buying a home is a monumental achievement; for many, it's a lifelong dream. However, before you can truly call a house your own, it's essential to understand the intricacies of property ownership, especially regarding property titles. In the beautiful state of Idaho, understanding property titles is vital to ensuring your homeownership journey is smooth and hassle-free.

What Is a Property Title?

A property title is a legal document establishing a person's or entity's right to property ownership. It serves as proof of ownership and is typically recorded with the county or local government where the property is located. Understanding property titles is crucial because they determine who has the legal right to possess, use, and transfer property.

Types of Property Titles in Idaho

When it comes time for you to draft a construction contract, there are certain tasks and considerations that you need to be cognizant of to protect you from any unnecessary challenges. Some of these things include:

1.  you are a registered contractor under the law 
2. identifying whether you do private or public work
3. identifying whether you are working to alter or repair a structure

Additionally, you want to account for these four parts in the construction contract. 

Idaho attorney Chad Moody gives an overview of the recent changes to Idaho lien law for Idaho contractors that went into effect on July 1, 2022.

Previously in another video, Wyatt Johnson discusses mechanics liens in Idaho. We highly encourage you to watch that video before this one for a better understanding of the content.

A recent change to Idaho's mechanics lien statute is especially noteworthy for contractors, subcontractors, and rental equipment providers. Idaho law provides complex details pertaining to the scope, rights, and obligations and, ultimately the enforcement procedures of these mechanics liens. [This video does not address each of these issues.]

Usually, when you are buying an investment property, it's vacant. Investors often have to fix up the property and put it in rent-ready conditions for tenants. However, some properties sell with tenants living in them already, which can mean several things for someone interested in buying said property. Each investment property comes with its risks and rewards. However, there are ins and outs to buying a tenant-occupied rental property. Every person considering investing should know the potential roadblocks and the benefits of inheriting tenants with your new investment property. See Idaho Code § 55-307.

Real estate purchase and sale agreements are the result of highly detailed transactions. Commercial purchase and sale transactions, in particular, entail complex challenges for real estate investors and sellers alike.

Protect yourself when dealing with major investments and the considerable risks that accompany them. An experienced real estate lawyer will bring not only the legal negotiation skills you need to ensure a profitable and fair outcome, but the business acumen required to navigate the complexities of the real estate market.