title search

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Title Search

In real estate, research done to trace a title back to its original owner or back to some date dictated by statute. A title search is done before the sale of property to ensure that there are no competing claims for the same property. A title search protects the mortgage lender from the possibility that that a competing claim will be honored in court, resulting in a loss. See also: Clean Deed, Quitclaim Deed, Title Insurance.

Title search.

A title search is an examination of property records by a title company or attorney to ensure that the person from whom you are buying a piece of property is its legal owner, and that there are no outstanding legal claims against the property.

Your lender will require you to pay for a title search before the closing, or settlement, on your new home.

The title search consists of a close examination of public records, such as deeds, wills, court judgments, and trusts, to make sure that the seller has the right to sell the property to you and that all prior mortgages, liens, and judgments have been settled.

Sometimes the title search uncovers pending legal actions, undisclosed easements, or even claims on the property by heirs to prior owners. Since title examiners might miss problems and public records can contain errors, most lenders will require you to purchase title insurance at closing to protect their interest in the property.

title search

A review of all recorded documents that affect title to a particular piece of real property. Ideally, a title search should proceed all the way backward to the original patent (deed) out of the government into the first private owner, or to the root deed, which is the first deed before a statutorily enacted cutoff date for claims.

References in periodicals archive ?
Along those lines, it is important to obtain a title report through the date the notice of lis pendens is recorded.
Preliminary Title Report with all Transfer/Conveyance information
Notes: to establish a firm price agreement for evidence ofownership and title report services with firm pricing through september 30, 2017 with a possibleoption to renew, at the city of dayton~s discretion, firm pricing for two (2) additional 12-month period from october 1, 2017 through september 30, 2018 and october 1, 2018 through september 30, 2019.
The second report is a full title report estimated to be 10 reports, which may require title insurance depending on disposition.
Redmond was recognized for his efforts in streamlining the property and title report process.
Additionally, FirstClose provides more progressive services, including alternatives to title report products such as Equiguard, Mortgage Loan Reports, and Fidelity's HELP and AQUA products.
This recorded lien would appear on the title report when the home is resold or refinanced.
Will another lender or buyer accept this kind of consultant, appraiser, architect, study, survey, title report and deed structure?
Description of specific services will be provided in each Task Order and will include work such as title search, title report, appraisal of property value, negotiation of fair market value, communication with property owners, preparation and recordation of documents, plats and surveys, recommendation of acquisition strategies, acting as the settlement agent, and expediting and tracking correspondence with other municipalities, clerks, and courts.
CPS also orders a credit report, preliminary title report and appraisal.
Materials provided by the PRA: The PRA will provide the selected consultant with the metes and bounds description of each individual property (through either a title report or the last deed of record) and a copy of the Department of Records Registry Plan covering each property.
This lien would appear on the title report when a buyer purchases a home, but would be subordinated to the buyer's home mortgage.