It’s wise to utilize title services before finalizing any kind of real estate transaction. Whether buying, selling, or refinancing, taking advantage of this process will help protect your financial interests. Here are a few items a comprehensive title search will include.

3 Facts a Title Search Will Tell You About a Property

1. The Property’s Owners 

It’s reasonable to assume the seller is the owner of the property; however, there may be other owners who are not involved in the transaction. A title search will reveal all parties who have an interest in the property, such as tenants in common and joint tenants. 

2. The Property’s Restrictions 

Comprehensive title services will reveal any easements, covenants, or caveats on the property. Easements refer to a non-owner’s rights to use the property for a specific purpose. For instance, a utility company may be granted an easement to access a gas line. Covenants, on the other hand, are restrictions regarding future structures or modifications. Caveats notify potential buyers that another party has some kind of interest in the property, and they have to be removed before closing.

3. The Property’s Liens

Since liens affect the property itself and not the individual responsible for the debt, it’s critical to confirm there are no liens against any real estate you're thinking about buying. If you fail to identify a potential or existing lien prior to purchase, it will affect your interest in the property after closing, when it finally comes to light. 

If you need title services in Tennessee, turn to Chattanooga Title. Their team has been assisting buyers, sellers, and owners throughout Hamilton County for more than four decades. As part of their comprehensive title services, they can assist with inheritances, foreclosures, closings, and escrow arrangements, so you feel confident about the property in question. To get in touch with someone on their team, call (423) 756-3057 or visit their website today.