Searching for titles has been part of the real estate transaction process since long time. Prior to that time, real property buyers assume all risks and responsibilities to ensure that land rights received from the seller are valid and free of any defects or liens.
If the title turns out to be illegal or fraudulent, the buyer can lose their investment. Title insurance company conduct research into public records to determine whether there are defects or problems with the ownership chain that can result in obligations to prospective buyers.
You can hire best national default title services at bay national title company for the title search process. After the records are checked, a policy will be issued to guarantee that the buyer is safe to complete the purchase; any errors found thereafter will result in payment on the policy.
There are a number of basic questions that must be answered by a title search for potential buyers:
-Does the seller really have an interest in being sold on the property; i.e. do they have legal rights to sell it?
-Is there a limit to that land? Matters such as easement restrictions on how the property can be used, and other agreements that will affect the buyer’s right to enjoy full use of the property.
-Is there a lien on the property? These are monetary claims such as return taxes, valuations made by government entities, mortgages, or mechanical liens
To identify and verify that the deed can be issued freely and free of any problems, the insurance company will carry out a thorough inspection of the documents recorded.