A Brief Guide On Title Search

Identifying and validating a property’s legal ownership and looking into its public records are all part of a title search. When making a purchase decision, this is helpful. Deeds, tax liens, property records, and court judgments are just a few sources used to search titles. 

By ordering a search, which a title search company frequently conducts, people and organizations can inquire at any time about what claims or liens are affixed to the property under consideration. The deal cannot be completed if a title search turns up a lien against the property.

What is Title Search?

An estate record search for liens affecting property exchange is part of a property title search. A property title’s owner is legally entitled to use it in any way they see fit. People like to ensure that the owner and seller have all property rights when looking for a property title. This investigation confirms that the seller is authorized to transfer property. 

A title examination is a requirement for each real estate purchase that calls for title insurance. This applies to homes bought using credit as well, as mortgage lenders expect a search before disbursing loan cash. Additionally, a real estate transaction can only be completed with a clear title being presented. Consequently, a search is the first step in the residential purchase procedure. Before obtaining a loan, most mortgage lenders require title insurance to protect against a title’s liabilities.

How To Do A Title Search?

Title searches done by experts tend to detect various facts that the ordinary homebuyer primarily misses. Below mentioned are some of the top-notch ways you can do a title search. 

  • The first and foremost step in doing a title search is ensuring that the public documents for countries are accessible. This is done using the state’s website’s property title and appropriate county selections. Through this, tax records can also be located. They confirm that all taxes have been paid and provide a wide range of essential property information. To ensure that the acquisition of the property was legal, one can quickly get their hands on the tax lien records, which are present in the county’s tax assessor’s office.
  • Once you have completed the first step, now comes the time to check the title chain. Get the most recent 50–70 years’ worth of deeds for the property, and you must make sure it matches the seller’s. For this, you can get your sight on a transparent chain of title, which serves successive ownership and ensures there are no legal claims against the estate that could reduce its absolute value.
  • The third step is to go through the title’s synopsis entirely. A summary of a property’s history, starting with the grant deed and covering tax liens, bankruptcies, unpaid debts, encroachments, etc., is often referred to as an abstract of the title. It is advised to keep aside your notes while searching. You can jot down essential information, including legal description, tax history, a chain of ownership, and all other details.
  • Many people tend to ask for legal advice when they make a broad inquiry. In this area, the title search company makes all the searches thorough, and they ultimately call for professional aid. Once you have successfully compiled the necessary information, speaking with a real estate attorney should be your next step. They can assist you with encumbrances, documentation, and a thorough land title search.