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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.

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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Often the broker will know why the differences in price exist, but title searches can be ordered to confirm the broker's statements.
(39) Therefore, when performing a title search of the Fulchinos, one would not have viewed a third mortgage on the Olde Cypress property.
But, when you consider that a car is most likely the second largest purchase most of us will make, spending a little money doing a title search or having a mechanic do an inspection is money well spent.
If the reader can tolerate the double and triple negatives by which oratorical style sends the eye skittering and the dependent clauses that occasionally pile up at the outset of paragraphs, this title search for the origins of Canadian land law will be absorbing and worthwhile.
The title search also will reveal whether there are undischarged mortgages or liens that need to be cleared at dosing.
2) Title search." Students are asked to print out pages from a library database title search on "modernism" (or other term) and use the titles exclusively to arrive at a working definition of the movement, its historical period, and its adherents.
If the survey and the title search uncover no problems, you qualify for title insurance which further protects you against claims on your property.
You take a finite contract, and work out how much it costs to do a title search, and eventually what happens is that you end up with about 50% to 70% of the premium that is unaccounted for, because there is nothing that is called commissions."
Sempra told the Union-Tribune that all Mexican federal cases "have been resolved, that a state lawsuit challenging its title to the Costa Azul property is not valid and that it conducted a thorough title search before the purchase."
The title abstracting services are limited to (1) performing a title search of aircraft records and (2) reporting factual information on the ownership history of the relevant aircraft and the existence of liens and encumbrances affecting title to the aircraft.
Intermediary A, the mortgage broker or title search company, controls the selection of the insurance policy by customer C, the home and mortgage buyer, sold by vendor B, the mortgage insurer.
A title search revealed the lien when the wife attempted to sell the property.