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A thorough title search will also likely include details about mortgages attached to the property, street and sewer assessments, taxes and any other problems present, says Hollander.
Title issues are not common, but if the title search uncovers one — or if it doesn’t, but one comes up later — there can be considerable legal costs. This is where title insurance comes in.
A full coverage search is usually done when creating a title report for sale/resale transactions and for transaction that involves construction loans. It generally includes searches related to property lien, easements, covenants, conditions and restrictions(CC&Rs), agreements, resolutions and ordinances that will affect the real property in question.
A grantor/grantee title search attempts to locate records by searching the parties listed on a recorded instrument. One approach to conducting a full grantor/grantee title search starts by searching the grantor index in the County records and determining the name of the first recorded owner of title.
There have also been attempts since then to introduce land value tax legislation, such as the Federal Property Tax Act of 1798, [15] and HR 6026, a bill introduced to the United States House of Representatives on February 20, 1935 by Theodore L. Moritz of Pennsylvania. HR 6026 would have imposed a national 1% tax on the value of land in excess ...
Values are determined by local officials, and may be disputed by property owners. For the taxing authority, one advantage of the property tax over the sales tax or income tax is that the revenue always equals the tax levy, unlike the other types of taxes. The property tax typically produces the required revenue for municipalities' tax levies.
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