What Will a Title Search Reveal?
November 19, 2018
A title search is one of the most important aspects of the sale of a home or property. That's because there are many issues that could affect a seller's legal right to sell the property. The title search can uncover title defects or title clouds that can either prevent the sale of the property or affect the ownership of the property after it's been sold. The title search is an extensive process and should be undertaken by professionals who know the process. A title search can uncover many issues that could make a title unsuitable for transfer.
What Exactly Happens with a Title Search?
When you purchase a home or property, a title search has to be undertaken before the sale of the property can happen. A title search is a process that involves sifting through tax records, deeds, and other public records associated with the property in question. The title search is necessary to ensure the person selling the property is the owner of the property and that he or she has the sole right to legally transfer the title to the buyer. The title search helps ensure there are no liens or encumbrances on the property that constitute a title defect and will prevent transfer of a clear title.
Can I Do My Own Title Search?
It is possible to conduct a title search on your own, without the help of a title company, but if you have never done a title search, you might want to leave it to the professionals. There are many intricate details that can easily be overlooked during a title search that might prevent the sale of the property, or in some cases, create future issues that will put your ownership of the property in jeopardy. There are ways you can prevent, or at least minimize, these potential problems. The first, of course, is to leave the title search to a professional title search company. The second thing you can do is purchase title insurance, which will help minimize your losses should a future problem with your title arise.
What Will a Title Search Reveal?
A title search can uncover a lot of information about a title. There are numerous issues that could cloud a title. Some of them are obvious; others are not quite so obvious. In a best-case scenario, a title search reveals all of the information about a title. This isn't always the case, however. The title search reveals a great deal of information about a title and goes a long way toward ensuring the title is free of defects. Here are just a few of the things a title search can reveal:
- Property and boundary disputes
- Property liens
- Missing Heirs
- Contested wills
- Utility easements
- Mechanic's liens
- False documentation/forgery
- Errors in filing
- Divorce decree settlements
- Bankruptcy issues
These are just some of the issues a title search can uncover. Not every title search is going to be successful at finding issues with a property. Some defects with a title, such as missing heirs or inheritance issues, may never present themselves. Any reputable company that does a title search does the best, most thorough job they can to uncover title clouds, but even the most thorough searches can miss something. That's why purchasing title insurance is so important.
If you are getting your loan through a traditional lender, such as a bank, you will be required to purchase lender's title insurance. Your lender will want to protect their investment. Lender's title insurance doesn't protect the buyer, however, only the lender itself. If you, as a buyer, want the same protection, you will need to buy a homeowner's title insurance policy. This is a one-time purchase that will protect you should an issue arise with the title of your property in the future that wasn't discovered before the transfer of the title went into effect. Title insurance doesn't guarantee you won't lose your property should a court of law determine the sale wasn't legal, but it can help you recover any money you have invested in the property up to the point a court decision is reached.
To avoid issues with a title in Florida, let Key Title & Escrow handle your real estate closings. We've been serving the real estate industry for more than 23 years, so we have the experience to make your closing as trouble free as possible. We've built a solid reputation for facilitating efficient, stress-free closings. At Key Title & Escrow, we are dedicated to providing customer service that adheres to the highest set of standards. Our professionalism, reliability, and our commitment are the best in the business. When you are ready to purchase a new home and you want the best title and escrow services in Florida, there's no better choice than Key Title & Escrow. Our reputation for quality closings means you won't be disappointed in the service you get from us. Whether you are a buyer, seller, or a real estate professional, Key Title & Escrow will work hard for you. Our goal is to offer the widest range of title and escrow services with the highest level of professionalism.
At Key Title & Escrow, we are are big enough to handle any job and small enough to treat our customers with personal attention. We handle closings statewide and offer after-hours closings so we're always there for you.
At Key Title & Escrow, we have your complete satisfaction at the heart of everything we do. Our goal will always be to provide you with the most professional and efficient closing possible. We know closing on a home can be a stressful time in your life. The last thing you need to do is worry about all the little details. At Key Title & Escrow, we handle all the details for you. All you have to do is show up. To learn more about how we can make your closing better, contact Key Title & Escrow. We are the best choice for real estate closings in Florida.
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