The title search, also known as a title examination, is the process by which a title company researches the history of a home’s title using a variety of databases including deeds, court records, property and name indexes. This process is meant to uncover potential problems with the title that could result in a third-party’s claim on the ownership. However, while a title search can reveal many potential problems, it cannot uncover everything that could put a home’s title at risk. This is why it’s important to have title insurance. In the event that an unforeseen and undetectable claim arises, title insurance protects against this threat. In this week’s blog, we’ll discuss what a title search can and can’t find.
What a Title Search Can Find
Title researchers can find many potential title problems. These include things like taxes or mortgages that were left unpaid by previous owners. There could also be judgments pending against the seller, or restrictions limiting the use of the land. There many be an issue with property lines or boundaries that needs to be addressed.
What a Title Search Can’t Find
A title search can’t find problems that are the result of human error. This include things like fraud and forgery, or clerical errors in record filing. Records with similar or identical names can also produce problems. Insufficient reporting of information by previous owners can also cause issues. “For instance, the previous owner could have incorrectly stated his or her marital status, resulting in a possible claim by a legal spouse.
Because there are some things that a title search just can’t uncover, it’s important to have title insurance to protect against any unforseen claims on your home’s title. Title insurance brings with it peace of mind in knowing that if someone files a claim against your title, you won’t have to pay for it.
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!
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