What is a Title Search?

Before any real estate loan closing, a title search is performed. 

A title search is a careful examination by an objective third party of all public records that involve title to a specific property.

The purpose of the search is to verify that there are no liens or clains against the property, other than those claimed and disclosed during the current transaction.

A title examination confirms that all former owners have formally given up their rights to the property.

Title searches typically include documents filed during the previous 30-years.

The person conducting the search looks at items such as past owners and deeds, wills, trusts, mortgages, judgments, and other liens.

Why is it required?

Real estate rights are protected by many laws. The owner, the owner's family and heirs have clear rights or claims relating to the property being sold. Other entities could also have an interest in or a lien upon the property:

• Governmental Bodies
• Internal Revenue Service
• Lenders
• Contractors
• Creditors

The real estate may be sold without the knowledge of the party having a claim to the property. Or, real estate could be purchased without the purchaser having any knowledge of these claims.

Whether the buyer knows about these rights or not, they remain attached to the title to the property until they are extinguished.