What is a title search?
A title search is performed to determine if a seller has a saleable interest in the property and whether any liens exist on the property that need to be paid off at closing (mortgages, back taxes, mechanic’s liens, or other assessments). As a result you receive a document of data research on a piece of real estate. When searching for property information it is important to be sure that you receive a title search abstract, not just a property deed. The deed by itself will not contain liens or mortgages.
A Title Search is a review of all recorded documents affecting a specific piece of property to determine the present condition of title. These documents include deeds, court records, property and name indexes, and many other documents. The purpose of the search is to verify the seller’s true interest in the title and right to sell property, and to discover any claims, defects and other burdens on the property. First, a service known as a title search describes the condition and quality of the title to the land you are buying. Then, your title insurance protects you against mistakes or threats that might otherwise result in financial loss to you, since problems with real estate are transferred with the ownership.
A title search is an examination of all public records that involve title to a specific property. The search is conducted to verify that there are no liens or other claims against the property other than those scheduled to be paid off by a new loan or a purchase money mortgage and/or subordinated by a new loan. A title search also confirms that all former owners have formally given up their ownership rights to the property.
You’ve decided to purchase a home and hope to take possession as soon as possible. The terms have been agreed upon and all the financial arrangements have been made. But there’s one important detail remaining. Before the transaction can close, a title search must be made. The most accurate description of title is a bundle of rights in real property. A title search is the process of determining from the public record just what these rights are and who owns them. A title search is a means of determining that the person who is selling the property really has the right to sell it, and that the buyer is getting all the rights to the property (title) that he or she is paying for. The title company in those jurisdictions can undertake the search process where the company maintains offices. In some areas, however, only practicing attorneys make searches. However the search is performed, in most real estate transactions today a title insurance policy is purchased to assure the buyer that he or
A title search is a detailed search of the historical records concerning a property in the courthouse where the property is located. These records include deeds, mortgages, court filings, property and name indexes, tax records, and many other documents. The search verifies the property owner’s right to sell or mortgage the property. It also reveals whether any parties have claim to the property.
