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One of the most important decisions a person can make during their lifetime is buying a home or investing in real estate. It is crucial to ensure, that the property you are investing in, is free of complications. The easiest way to accomplish this is by conducting a title check which can save you from financial, legal and ownership disputes.
Let’s explore, why a title search is, extremely important in your investment journey!
What is a property title search?
A property title search is the process of reviewing public records to confirm a property’s legal ownership. This search helps uncover any claims, liens, or encumbrances that may be attached to the property. It’s typically conducted by, a real estate attorney or a title company. They review documents, such as deeds, mortgages, and tax records to verify the property’s legal status.
A title search will help you verify if the seller has the legal right to transfer the ownership of the property. It will help you make sure that there are no unresolved issues that can endanger the transaction. It is crucial to address these concerns before closing any deal so you don’t face any financial loss or dispute in the future.
Why is a Property Title Search Crucial?
Ensures Clear Ownership
A clear title confirms that the seller is the rightful owner of the property and has the authority to sell it. Without a proper title search, you risk purchasing a property with a murky ownership history, potentially leading to costly legal battles. This can also lead to you losing your investment if someone else proves a valid claim to the property.
Uncovers Liens and Encumbrances
Liens are legal claims against a property, typically arising from unpaid debts such as taxes, mortgages, or contractor fees. While e… Read More
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