Title Search
Candlefocus EditorA title search is a must for most real estate transactions to go through in order to ensure that the title of a property is clear and free of any claims. The title search process involves searching public records, such as county courthouses and clerks offices, to determine any defects that might be associated with the property. The process of performing a title search can take some time since it requires detailed research to uncover any potential problems with the legal title before a real estate transaction can be completed.
A title search may also uncover any claims that may affect the current owner’s ownership interest in the property. This could include claims from liens, mortgages, unpaid taxes, existing violations of local land use regulations, and any recorded restrictions on alienation. These issues must be resolved prior to the transfer of ownership so that the buyer knows exactly what they are purchasing.
Title insurance may be purchased to protect against any potential financial losses that could result from title defects discovered during the course of the search. By purchasing title insurance, the buyer and seller of a property can rest assured that they will not lose money due to unknown issues with the title.
In essence, a title search is a necessary part of any real estate transaction and serves to ensure that no surprises come up in regard to the title of the property. It is important that buyers and sellers understand the title search process so that they can make informed decisions when engaging in a real estate transaction. The process can take some time, but when done correctly, it can bring peace of mind to the buyers and sellers of a property.