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Purchasing a home is one of the largest financial commitments you’ll ever make, so it’s natural to want to collect as much information about the property as possible. In addition to commissioning a thorough inspection of the building itself, you’ll also need to find a professional to carry out a detailed title search to make sure you’ll have clear ownership of the property after the sale. Below is an overview of this crucial step of the process, including what details the search might reveal and how these results could impact your financial future.

What Is a Title Search?

A title search is a detailed examination of public records, including deeds and wills, to determine whether any other party has a valid claim to the property. Depending on the circumstances, the title company may review records of all previous transfers of the property going back several years. They will also look for any liens against the land issued by private lenders, government agencies, or other entities which could encumber the sale.

What Title Searches May Uncover

title-searchDuring a title search, the researcher may discover that a previous owner sold the property without agreement from other stakeholders or that it was improperly transferred through probate. In these situations, descendants of those involved may have a valid claim on the property; these claims will have to be paid off before the title can be transferred. The search might also find that local, state, or federal tax authorities have issued a lien against the property, which means the property can’t be sold without satisfying the debt.

Possible Results of Skipping the Title Search

Competing claims that emerge after the sale are the responsibility of the property owner. If you’ve purchased the property, you’re responsible for these claims regardless of whether you knew about them when the title was transferred. A title search provides security and peace of mind. This is especially true if you purchase title insurance. Depending on how much coverage you purchase, the insurance will cover up to a specified amount of the claim, which will be outlined in your policy.  


 

If you plan to purchase a home anywhere in Ohio, turn to the experienced professionals at All Points Title & Closing, Inc. for help with a title search for your new property. Located in Hamilton, OH, they’ve helped countless new homeowners throughout the area navigate the complexities of the closing process since 1986. Follow their Facebook page for updates and news. Call (513) 863-7600 to discuss your sale with a member of their team, or visit their website to download a title request form.

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