Title Reports

by ryan on March 11, 2017




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Title Reports

 

The property title report is considered to be an important document especially when it comes to ascertaining the ownership of a property. The entire area of land as well as the type of ownership either single or jointly can be obtained by viewing the report. Legal parlances depicting the details of the land transfer as well as the exact date of purchase can be retrieved by going through the property title as well.

printable-Preliminary-Title-Report

The names along with the addresses of the previous owners are frequently mentioned within this report too. The dates of issue of the certificate as well as the valuation of the property are other information that can be retrieved from the title report for property. The actual area of the land is also included within the property report.

Researching a property title thoroughly is considered to be one of the best ways of ascertaining the legal status of the real estate in question. The other parties holding a lien on a particular piece of property can hope to recover their debts when the real estate is sold off. Most property title records reveal the lien holder as the construction company still to be paid for their services. The name of Internal Revenue Service is frequently revealed in the reports too especially when the owner has a history of unpaid taxes against the concerned piece of property.

The property title is particularly significant with the report being considered as a valid legal document containing records of the seller relinquishing his claims on the property. The person who purchases the property, on the other hand, can claim ownership of the property title along with the property. Holding the property title is particularly advantageous as the owner can then apply for a number of property related loans by putting up the property tile as collateral.

The property title deeds can be issued in a single name as well as jointly. The report of a property title can reveal the details of a single ownership or a joint ownership which is also known as tenancy in common. It is, therefore, imperative to go through the property title report before going forward with the procedure of purchasing a property. The report usually reveals the existence of third party claims particularly liens as well as other outstanding debts. The names of co-owners are also included within the reports and it becomes the responsibility of the buyer to study the title report carefully and ascertain whether the concerned property is free of other encumbrances.

Sample Title Reports

Preliminary-Title-Report

 

template-Preliminary-Title-Report

pdf-Preliminary-Title-Report




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