A title search is a means of determining that the person or entity who is selling the property really has the right to sell it, and that the buyer is getting all the rights to the property or title that he or she is paying for.
The title search is a history of the ownership of a particular piece of property, telling who bought it, sold it and when. The information is derived from public records, i.e. the county or city clerk's office.
Included in the title search, is the determination of the status of the real estate taxes against the property and whether the real taxes are current or past due. Another part of the title search is the determination of whether there are any unsatisfied judgments (considered liens) filed against the seller or any previous owners of the property. This is vital as the property in questions can be sold to satisfy any outstanding real estate taxes or judgment liens.
|
