You’ve found the perfect house, and you’re eager to make it yours. But before you sign the contract, have you done everything to ensure no hidden problems are lurking beneath the surface?
A full title search can do exactly that. It can save you from costly mistakes, legal disputes, and potential financial loss.
With this in mind, let’s take a quick look at the most important things you need to know about full title searches.
What is a Full Title Search?
A full title search is a meticulous examination of a property’s historical records to uncover any potential legal issues or encumbrances that could affect ownership or value.
It delves into public records to provide a detailed picture of the property’s past, including:
- Ownership History: A chronological list of all previous owners and their dates of ownership.
- Liens and Encumbrances: Any financial claims against the property, such as mortgages, tax liens, or judgments.
- Easements and Restrictions: Legal rights or limitations on the property’s use, such as access rights or zoning restrictions.
- Title Defects: Any errors or inconsistencies in the property’s title, which could hinder ownership or transfer.
- Legal Actions: Any lawsuits or legal proceedings involving the property, including foreclosures, partition actions, or boundary disputes.
- Zoning and Land Use Regulations: The specific zoning classification of the property and any applicable land use restrictions.
- Covenants, Conditions, and Restrictions (CC&Rs): Private rules or agreements that govern the property’s use and maintenance.
Are Full Title Searches Mandatory?
No, they are not mandatory in most jurisdictions. You can also opt for less in-depth searches like a Current Owner search or a Two Owner search.
However, a full title search is the most comprehensive option and will give you the most detailed and accurate picture of the property’s history.
What Can Happen if You Don’t Get a Full Title Search?
Wasted time, money, and headaches. A previous owner might have defaulted on a mortgage, leaving a lien on the property that could affect your ability to obtain financing. Additionally, other hidden liens, easements, or title defects can arise, leading to unexpected costs, legal disputes, and even the loss of your investment.
Imagine discovering after purchasing a property that your neighbor has a right of way through your backyard, or that the property is subject to a restrictive covenant that limits your ability to make renovations. These unexpected issues can cause significant frustration.
Furthermore, if legal disputes arise, you may need to hire an attorney and potentially go to court, which can be both time-consuming and expensive.
Where Does the Information for Full Title Searches Come From?
The information used in full title searches is primarily sourced from public records maintained by local government offices.
This includes the County Recorder’s Office, Land Records Office, Tax Assessor’s Office, and courthouse documents. However, not all documents are readily available, and that’s why it’s crucial to partner with a title search provider that knows where to look.
Our team of local on-the-ground searchers can uncover documents not easily available through online searches. This ensures that you have a complete and accurate understanding of the property’s history before making a purchase.
Don’t take any chances. Protect your investment with a comprehensive full title search. Contact us today to get started.
