What will the title company do if a title defect is discovered?
Sometimes when a title search is performed, a title defect may be discovered. An example of a defect in title would be an unreleased deed of trust. When a lender receives a loan payoff, it is legally required to release the existing liens from the property. Many lenders, however, do not release these liens in a timely fashion. When a title search is performed by Shamrock Title, LLC, the loan may still appear as a lien on the property. There are several different methods that Shamrock Title, LLC may use to eliminate the problem. Typically, we will inform the parties and their real estate agents only if they may possess information that may be helpful in resolving the issue. Fortunately, Shamrock Title, LLC is able to resolve virtually all title defect issues prior to the actual closing.
