Photo Scanner: Property Title Search

Property Title Search

A title search is a process that is performed primarily to determine the answer to three questions: Does the seller have a saleable interest in the property?, What kind of restrictions or allowances pertain to the use of the land (real covenants, easements, or other servitudes)?, Do any liens exist on the property which need to be paid off at closing (mortgages, back taxes, mechanic's liens, or other assessments)? Home foreclosure is often linked with liens held by banks or governmental agencies. Multiple liens from various sources may be held against a property in foreclosure. If a home is sold at a foreclosure auction, the proceeds are divided paid to lienholders in order of filing until all proceeds are expended. Public auctions (also known as sheriff’s sales or foreclosure auctions) are typically held in the municipal or county courts, which neither guarantee an unencumbered title nor offer protection to buyers against additional liens on the property.