Buyers Sellers

What is a Title Search?

A title search is a way to determine whether the person selling a property really has the right to sell it. It protects the buyer by confirming the property’s legal ownership, and finding out if there are any claims on the property. Here are several things examined during a title search.

Chain of Title… this is a review of all historical title transfers from the current owner back to the original owner.

A tax search… this determines the present status of any real estate taxes or other taxes owed on the property.

Report on possession… inspectors are often sent to the property to verify the lot size, easements or improvements.

A judgment and name search…. this search looks for any unsatisfied judgments against the seller – or other previous owners – that might have put a lien on the property.

Once these searches are completed, the title company issues a commitment to insure – and states the conditions under which it will insure the title. If any defects in the title are found, they must be cleared up before the buyer, seller and mortgage lender can proceed with closing the transaction.

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