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Refinance and Mortgage Encyclopedia - title search

Title Search

A checkA written order instructing a financial institution to pay immediately on demand a specified amount of public recordsRecords which by law impart constructive notice of matters relating to land. to be sure that the sellerA person who makes a transfer of title to real estate. is the recognized ownerThe full name of the primary owner of the property parcel.(e.g. John P. Doe). of the real estateThe physical parcel of land and all improvements permanently attached. An identified parcel or tract and that there are no unsettled liens or other claims against the propertyThe rights or interests a person has in the thing he owns; not, in the technical sense, the thing itself..

Title Search

A checkA written order instructing a financial institution to pay immediately on demand a specified amount of the public recordsRecords which by law impart constructive notice of matters relating to land. to ensure that the sellerA person who makes a transfer of title to real estate. is the legal ownerThe owner of title, as distinguished from the holders of other interests, e.g., beneficial or possessory interests. of the propertyThe rights or interests a person has in the thing he owns; not, in the technical sense, the thing itself. and to identify any liens or claims against the property.

Title search

A checkA written order instructing a financial institution to pay immediately on demand a specified amount of the titleTitle is the evidence of ownership. In essence, title is more important than ownership because having records to ensure that the sellerA person who makes a transfer of title to real estate. is the legal ownerThe owner of title, as distinguished from the holders of other interests, e.g., beneficial or possessory interests. of the propertyThe rights or interests a person has in the thing he owns; not, in the technical sense, the thing itself. and that there are no liens or other claims outstanding.

Title Search

A checkA written order instructing a financial institution to pay immediately on demand a specified amount of the titleTitle is the evidence of ownership. In essence, title is more important than ownership because having records to ensure that the sellerA person who makes a transfer of title to real estate. is the legal ownerThe owner of title, as distinguished from the holders of other interests, e.g., beneficial or possessory interests. of the propertyThe rights or interests a person has in the thing he owns; not, in the technical sense, the thing itself. and that there are no liens or other claims outstanding.In order to make sure the borrowerPerson responsible for repaying a loan who has signed and agreed to the terms in the promissory note. will receive clear titleOwnership that is free of liens, defects, or other legal encumbrances. to the property, lenders require a title search. It attempts to uncover any "encumbrances" on the title and makes sure the seller is the actual ownerThe full name of the primary owner of the property parcel.(e.g. John P. Doe). of the property. Encumbrances include any liens ^legal claims against a property filed by creditors as a means to collect unpaid bills. Liens can also be filed by the Internal Revenue Service for nonpayment of taxes. Any such claims must be paidThis is the amount of tax posted as paid for the year in question, either in installment payments or by the seller ^this often occurs either before or at the closingThe process of completing a financial transaction. For mortgage loans, the process of signing mortgage.

Title Search

A checkA written order instructing a financial institution to pay immediately on demand a specified amount of the titleTitle is the evidence of ownership. In essence, title is more important than ownership because having records to ensure that the sellerA person who makes a transfer of title to real estate. is the legal ownerThe owner of title, as distinguished from the holders of other interests, e.g., beneficial or possessory interests. of the propertyThe rights or interests a person has in the thing he owns; not, in the technical sense, the thing itself. and that there are no outstanding liens or other claims on the property.

Title Search

The process of checking records relating to the titleTitle is the evidence of ownership. In essence, title is more important than ownership because having to see that it doesn't have any liens, mortgages, encumbrances or other claims against it that would keep it from being transferred
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