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The title search might uncover an open security deed from the current or prior owner that was never released. “If so, some research needs to be conducted to determine if this was left open in ...
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.
Paramount title is the best title in fee simple available for the true owner. The person who is owner of real property with paramount title has the higher (or better, or "superior") right in an action to quiet title .
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.
An abstract of title should be distinguished from an opinion of title. While an abstract states that all of the public record documents concerning the property in question are contained therein, an opinion states the professional judgment of the person giving the opinion as to the vesting of the title and other matters concerning the chain of ...
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A title search is ordered, and a title commitment and closing protection letter (CPL) are issued and sent to the lender. In some cases, closing in escrow may occur. If so, the opening of escrow occurs during this time. [5] Closing preparation: During closing prep, any title issues discovered during the title search are cleared up. [6]