In property law, a title is a bundle of rights in a piece of property in which a party may own either a legal interest or equitable interest. The rights in the bundle may be separated and held by different parties. It may also refer to a formal document, such as a deed, that serves as evidence of ownership. Conveyance of the document may be required in order to transfer ownership in the property to another person. Title is distinct from possession, a right that often accompanies ownership but is not necessarily sufficient to prove it. In many cases, both possession and title may be transferred independently of each other. For real property, land registration and recording provide public notice of ownership information. In real estate business and law, a title search or property title search is the process of retrieving documents evidencing events in the history of a piece of real property, to determine relevant interests in and regulations concerning that property.
You need a title search any and every time you buy, sell, transfer, or refinance property. Buying or selling property: The property you’re buying may have been in the family for years, or the seller may be a long-time friend. The key here is to protect yourself against any hidden liens or other problems that may have occurred during the chain of ownership.
Mortgage or refinance property: Your lender will want to a new title search to protect their investment in the property. You may have incurred a mechanic’s lien from a contractor, or you may have a judgment placed on your house due to unpaid taxes, homeowner dues, or child support. The lender needs reassurance that the title to the property they are financing is clear.
By searching public data sources for property records and combining the information with proprietary data, Credential Research® can provide the most comprehensive collection of online property records. Depending on your region of interest you can find deeds, mortgage files, air rights, lease agreements, property ownership records, etc. Let us give you the best possible set of information.
Credential Research® may also investigate the physical records in the office of the county recorder or registrar, the appropriate real estate tax collection offices, and the offices of the circuit or district courts affecting the real estate property. More often than not, these records are not digitized, because they chronicle the history of the property and other terms and conditions. They are typically hard copies or image scans.