A property title search is a crucial part of the real estate sales process that determines who has legal ownership of a piece of property, and ensures that nobody has any claims or liens that could complicate the sale. After an offer has been accepted, the title search reviews a wide variety of federal, state and local records, including tax records and legal records, to make sure there are no judgments or obligations that could attach to the property. A clean property title search means there are no problems with ownership.
- A property title is needed by anyone who has claims to a property and also anyone who has intention of selling the property.
- Buyers and sellers who want to go on the property market should do a property search to uncover hidden claims and liens to the house.
- After an offer to a real estate purchase has been accepted then one has to undertake a property search and this includes searching for deeds and tax records.
“However, a search can be done anytime, by anyone, such as a buyer (who might not need a lender’s money) or a homeowner who’s looking to refinance their home.”