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A title search is the process in which a title company or attorney examines public records to make sure that there are no claims, liens or issues with a property that could result in another ...
With a clear title, there’s no doubt who the owner of the property is, or who can claim legal ownership of the property. To get a mortgage, lenders require a thorough title search of local ...
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 good title consists of the combination of these three (possession, right of possession, and right of property) in the same person(s). The extinguishing of ancient, forgotten, or unasserted claims, such as E's in the example above, was the original purpose of statutes of limitations. Otherwise, title to property would always be uncertain.
A land patent is a form of letters patent assigning official ownership of a particular tract of land that has gone through various legally-prescribed processes like surveying and documentation, followed by the letter's signing, sealing, and publishing in public records, made by a sovereign entity.
The report requires an interior and exterior inspection of the subject property. An exterior building sketch of the improvements that indicates the dimensions. Clear, descriptive photographs of the subject property and comparable sales used.
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