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A title search is usually required in real property transactions. It confirms the legal title of a property and also establishes its ownership status. Clear title is crucial for a real estate transaction to proceed smoothly. Clear title can lead to conflicts with lenders over title transfers. Title insurance companies conduct an examination of the title to guarantee title coverage on a piece of property prior to the closing date. There are various methods for conducting title searches.
The only way to conduct an actual title search was to contact all of the local offices of the United States Attorneys and then have each courthouse in the local area identify the current owner of the property and request a copy of their legal documents relating to the property. If the individual didn’t have any legal documents in place or titles, they would likely not have any titles in active status. The local office would be required to conduct an inquiry into the title. This could take a few days and can cost quite a bit.
There are many options today to quickly and easily conduct the title search. Many real estate agents, who are educated in the art of title search, now have access to online databases of property records. These databases include deeds and images of documents in the title company’s data base. The title search business makes use of this database to conduct a search on the county where the property is located.
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The title search business can use the data base to look up the owner’s name in the event that the person doesn’t possess any legal papers. If the owner is still in the United States, the company searches the records of the county in which the owner reside. The company will also look up for the United States territorial laws for international properties. If all else fails, the property title search providers have the authority to produce a certified duplicate of original document images for purpose of conducting a successful title search.
It is simple to find the information regarding the owner when you have clear title. With that knowledge you are able to get the title history that is clear of the property. If the original image of the document was missing or not complete, the online title search will produce an “revised” hard copy title history. The hard copies are crucial for establishing a clear title history for your own personal needs as well.
When you are working with a foreign entity it is possible that a title search be required if there is a discrepancy between the paperwork of the parties. A foreign entity may purchase a property, and the title issued by the law might not be able to identify the owners. In these instances, a title search may be required to determine the owners of all the necessary deeds.
An important point to consider is that, even if there’s a title chain from the seller of a property to the purchaser, if there is no clear title on the deed you do not have legal rights to the property. Therefore, it is crucial to speak with an experienced lawyer prior to beginning the title search in order to determine the names of parties involved in the purchase. If you do this without an attorney’s expertise can result in serious legal issues and could result in having the court demand that you pay for the mistakes in the deed if you attempt to redeem the property before having the matter resolved by an attorney appointed by the court. The attorney will also provide information on the steps you need to follow if you don’t have legal ownership of the property prior to the purchase. The attorney will scrutinize the purchase contract as well as other legal documents to ensure that there aren’t any flaws in the chain of title.
Anyone can conduct the title search, but it is crucial to select an established title company. You can find out which firms in your area are authorized to conduct title searches online. If you’d prefer to discuss the specifics of the search with a local attorney, you can go online to an online site that provides numerous different special legal services including the title insurance policy and search. This website has a comprehensive list of the attorney generals and specialty law firms that are registered with courts in the country.
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