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A title search ensures that there are no hidden claims on the property that could impact the ownership rights of the buyer. The search is typically performed by a title company or attorney and can ...
A foreclosure guarantee is a type of report (e.g. trustees sale guarantee, judicial foreclosure guarantee and litigation guarantee) that is used mainly for foreclosing an encumbrance (or a lien) in a certain property. The title searcher will perform a full coverage search to the property in default and a search for the addresses of the lien ...
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.
Examples are those getting the property as a gift and heirs. Also, those who purchase ownership interests in the owners of the property, such as shares of stock in a corporation owning the land, have not purchased an interest in the property itself and so are unprotected. Also, recording laws generally do not protect purchasers against real ...
In law, conveyancing is the transfer of legal title of real property from one person to another, or the granting of an encumbrance such as a mortgage or a lien. [1] A typical conveyancing transaction has two major phases: the exchange of contracts (when equitable interests are created) and completion (also called settlement, when legal title passes and equitable rights merge with the legal title).
Know the title transfer deadline: After you buy out your lease, you have to transfer the vehicle title to yourself within a certain period. The deadline typically ranges from 10 to 30 days ...
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