The field of real estate deals with titles which show legal possession of the property owner. Before selling or buying a real estate property you need to conduct a title search process. Title search is a process that includes evaluating documents like deeds, recorded documents and contracts connected to the property. The benefit of conducting a title search process is to help the buyer find out hidden debts or other issues, and the seller to verify they have the rights to sell the property. People who want to mortgage their properties also need title searches.
The lender would want to have got title insurance before they occupy the property. The title insurance are categorized into two. The lender or the property owner can buy the title insurance. Property ownership comes with many challenges such as loans or due taxes, easements, or mistakes during recording, so title insurance protects the owner from such issues. A buyer, also benefit from title search since it provides no complications are preventing them from legal ownership of the property. Insurance companies use the title search process to help them minimize risks when offering policies.
For instance, title insurance claims are fraudulent, unstated heirs, documenting errors, and unknown liens. The search process start with the chain of title. The researcher will begin by searching the historical transmission of the property to the current owner. If the chain of title is not well traceable the title need to be more clarified. The second step is the tax search to verify the present status of taxes on that property.
Before the insurance is issued the seller must pay the unpaid taxes. The third step includes inspecting the property to check for encroachments and the lot size. Judgment Search and title closing are the last two steps. Several companies offer title search services. Among the many companies, ensure you choose the best. A reliable company like Title Leader will save you time and money by offering fast services. Visit different websites available online and check for their offers.
Most online services save you time used during manual title searches. The company can handle thousands of title searches using online platforms. Look for a company that uses title leader to offer best results. Title leader can facilitate smooth workflow within the company helping managers function better. If you are conducting a title search online ensure you use services from a reliable company such as title leader. Every step of the title search process should be conducted under one platform. Before you start using the application ensure you consider the pricing. Find out more!
Get more info at https://en.wikipedia.org/wiki/Title_search
