What Is A Title Search?

Purchasing a house is an exhilarating life event, but the thrill can sometimes be overshadowed by the anxiety of completing all the essential stages, from making an offer to closing on your new home.

Buyers should always conduct a title search before purchasing real estate to avoid any legal problems or disputes in the future.

What Is A Title Search

A title search is the process of reviewing public records to determine the history of ownership and to verify the legal ownership of a piece of real estate. The purpose of a title search is to ensure that the seller has legal ownership of the property, that there are no liens, claims or encumbrances against the property, and that the property can be legally transferred to a new owner.

Who Performs The Title Search

Typically, a title search is conducted by a title company or an attorney who specializes in real estate law. The title company will issue a preliminary title report that outlines the findings of the search.

Why It’s Important

A title search is important because it helps to identify any potential issues that could affect the transfer of ownership, such as unpaid taxes, outstanding mortgages, or disputes over property boundaries. By conducting a title search, buyers can be confident that they are purchasing a property that is free and clear of any legal problems.

The Process

The process of conducting a title search involves a thorough examination of public records, including deeds, mortgages, liens, easements, and other legal documents that may affect the title of the property.

Identify The Property: The first step is to determine the legal description of the property, which includes the address, lot and block number, and any other identifying information.

Gather Historical Records: The title search involves examining a variety of historical records, including deeds, mortgages, tax records, and court documents, to determine the ownership history of the property and to identify any liens or other encumbrances.

Review The Records: The title examiner reviews the historical records to verify the chain of ownership and to identify any issues that may affect the title, such as outstanding mortgages, tax liens, or legal judgments.

Resolve Any Issues: If any issues are identified during the title search, they must be resolved before the sale can proceed. This may involve paying off outstanding liens or negotiating with creditors to release their claims on the property.

Provide A Title Report: Once the title search is complete, the title examiner prepares a title report that provides a detailed summary of the property's ownership history, any issues that were identified, and any steps that were taken to resolve those issues.

In Summary

A title search is an important step in the real estate purchase process because it helps ensure that the buyer receives clear title to the property and avoids any legal issues that could arise in the future. Buyers should always conduct a title search before purchasing real estate to avoid any legal problems or disputes in the future.