Title Search and Examination
Search, Examination and Commitment. Close with Confidence℠
Why is this essential? Having a clean title is essential, specifically for your lenders. It is impossible to get a mortgage from all credible lenders without a clean title report, or at least one approved by the mortgage company. This insurance is not only for the benefit of the lender. It also ensures that the buyer is covered from any adverse issues with the title as well. That is why most buyers choose to follow the lenders’ precautions and obtain a title policy themselves.
What happens if the title search reveals issues? Easement, covenants, and liens on the property that are searchable in the public records is revealed in the search and not all burdens on the property are equal, for example, an easement to install the electrical by the city is not the same problem as a contractor lien for work performed. Alligator Title & Escrow is an attorney owned boutique title company. Through Yormack Law, P.A., our attorneys work with clients to resolve title issues prior to closing.
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What Is a Title Search or Title Examination?
- Single-family home
- Vacant land
- Multi-family building
A title search and examination reveal many details, including the history of transfer deeds, mortgages, liens, legal descriptions, and issues related to whether the buyers or sellers were entities, single or married, or if any parties have used a trust or IRA to facilitate a sale and if the owner is a former tenant.
What Does an Owner’s Policy Cover?
Title companies pay to access multiple municipal, state, and federal certified databases of records. The searches go beyond simple public records. The searches are reviewed by an expert title examiner who understands the intricacies of the documents’ legal implications.
The search begins with a review of the municipal public records, followed by a deep dive into additional databases. It is a fact-finding mission with one purpose, to identify and uncover relevant information. Including any previously incorrectly recorded, signed, or recorded transfer deeds, liens on the property—for example, municipal taxes, mortgages, loans, or IRS debt. Finally, we address the neighborhood rules for moving into an HOA or Condo Association.
Contact Alligator Title & Escrow for your title search and examination. We will provide you with a title commitment detailing everything a buyer or seller needs to know. Close with confidence℠.