Real Estate Series: Title Search
After the purchase agreement is signed, it is necessary to establish the state of the seller's title to the property to the buyer's - and the finance institution's - satisfaction.
Generally, a title search is ordered from a title insurance company. The purchase agreement details how the title search is paid for and what search and policy are to be issued.
An attorney can help review the results of the title search and explain the title exceptions as to what is not insured, and determine whether the legal description is correct. Additionally, an attorney can advise whether there are problems with adjoining owners or prior owners. An attorney can also explain the effect of easements and agreements or restrictions imposed by a prior owner, and whether there are any legal restrictions which will impair your ability to sell the property.
The attorneys are our firm frequently assist with real estate transactions and review and explanation of title issues. Feel free to contact us if you need assistance.