The role your home title company plays in determining that your property belongs to you and you alone is essential in protecting you from future claims against your property. So how does a title company figure out whether or not your title is valid, and safe from lawsuits, claims, and other disputes? It takes a lot of research with a fine-tooth comb.
How Does a Home Title Search Work?
A home title search is the process by which a title company gathers information regarding your home’s title. This is done via a search of relevant property records, which can date back many years. In this search, the title company looks to see if there has ever been a dispute regarding ownership of the property, either in part or in whole. In addition, the title company also looks for discrepancies such as unpaid liens, taxes, judgments, outstanding mortgages, as well as any other issues that could potentially cause problems.
In addition to extensive records research, the title company may also get out in the field for what’s called a property survey. This “determines the boundaries of the plot of land that a home sits on, whether the home sits within those boundaries, whether there are any encroachments on the property by neighbors and any easements that may impact an ownership claim.”
The Abstract of Title
So the research is finally finished. Now it’s time for the last step in the home title search, the abstract of title. This is a document that declares what was discovered during the research. Based on this information, the company writes a title opinion letter. This legal document declares the title company’s stance on the validity of the title.
About Colony Title Associates:
Founded in 1995, Colony Title Group handles in excess of 2000 real estate closings per year in the central Maryland area. The founder Tee Tillman has over 23 years experience in the title and real estate law fields. Colony handles closings for several lenders, including banks, credit unions and mortgage brokers. Colony is the preferred choice for many real estate brokers in the Baltimore area. If you have any questions concerning issues that Baltimore title insurance protects you from, feel free to contact us at 410 884-1160 or visit ColonyTitle.com today!