What is a Title Search?

A property title search (also commonly referred to as a Certificate of Title) is a legal record that contains up-to-date information regarding the current owner/s of a property or block of land. This information is sourced from a state government land title department.

What a Title Search Includes

Full Names of Landowners

A title search will show every party that currently owns a particular property, including sole owners, multiple individuals or a business entity. It’s imperative to verify who the owners of a lot of land are prior to purchasing it to ensure that the party selling the land is legally entitled to do so.

Mortgage Details

A title search will show if the land has a mortgage on it and which bank or financial institution holds the Certificate of Title as opposed to property owners or occupants. Anyone wanting to buy a property must confirm that the seller has paid off or otherwise resolved matters pertaining to the mortgage before settlement in order to avoid any issues or delays.

Land Restriction Details

The most common types of land restrictions listed on a title search are covenants and easements. While these two types of restrictions differ, in essence both covenants and easements state any restrictions on how the land can be used or developed.

Caveats

Caveats are legal notices lodged with the state land registry, serving as a warning to anyone interested in purchasing a property that other parties already have an interest in that property.

When is a Title Search Necessary?

There are various occasions when parties may have to do a title search on a lot of land, including when someone wants to:

• Buy a property
• Sell a property
• Prove ownership of a property
• Refinance a mortgage

Find Out More Today

If you want to know “What is a title search?” or learn why a current title is important when buying a property, please get in touch with us for more information.