What is a title search?
When one is in the process of buying a property there are a few preliminary steps to ensure the buyer is protected from any issues. One of the issues requiring investigation is the title or ownership to the property. As time passes, properties are transferred from one to another. Normally, these transactions are recorded. However, title transfers are not the only activity recorded. Other actions or filings that can be recorded against a property include liens, mortgages, easements (i.e., this allows people access through one’s property). These filings are examples of what are called encumbrances.
All of these filings could have a negative impact on the property; the price being offered; and, possibly, one’s decision to the particular property itself. In order to ensure the property is free from encumbrances or at least make you aware of the encumbrances, should they exist, a title search is performed. A title search is an action whereby a title company reviews the records filed regarding the property in question. The title search should review both the record ownership to confirm there is no gaps in the title and if any encumbrances exist. Once a title search is performed, a report summarizing the findings is created and sent to the buyer or buyer’s agent.
Benefits of a Title Search
- Reviews the recorded history of property.
- Discovers any hidden legal issues.
- Can provide information to either move forward or negate purchasing of property.
How long does it take to review a Title Search?
Approximately 1-2 business days*
*Depending on Specifications
Why SG Law Group to review your Title Search?
Concerned whether the property you’re thinking about buying has any issues? The closing date is coming and you have not performed a title search? Contact SG Law Group. We have attorneys knowledgeable in the closing process that can represent you and safeguard your interests when buying a property.
Hire an affordable, professional Attorney to help ensure your Closing goes Right!