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A Title Search is an examination of public records that involve a specific property to verify that there are no other claims against the property. Typically, the title search is conducted to ensure that the certificate of title can legally pass from a seller of a home or land to a buyer.
The company providing the title search service will look for things such as liens, mortgages and judgments that might prevent transfer of ownership. This search will also provide for corrections in the event that information such as a date is missing on a document such as a deed.
Even if a title search is thorough, there are situations that can later bring into question the ownership of the property. For example, the sudden appearance of an heir identified in a Will or discovery of a forged signature on a document could start a legal dispute over ownership. Title insurance protects the buyer against errors and unforeseen disputes that arise after a title search is complete. This is why mortgage lenders require title insurance to be purchased to protect their investment in the home. |
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