If you are buying some new property, there are many things you must do. One thing you may not have thought of is doing a land title search. This is very important for many reasons, a few of which are listed below. You will also find information on how a land title search works.
1. Know Why You Should Do a Land Title Search
A land title search will show you if the current property owner is not the actual owner of the property. For example, they may have conveyed the property and if so, you would not be allowed to purchase the property.
A land title search will also show you if there are any easements on the property. This means someone else has legal access to your property for a certain purpose. This may be they have a garage built on the property or another type of building. If so, and you purchase the property, there is nothing you could do about this.
A land title search will show you if there are any town zoning ordinances. If so, this would prevent you from having something like a home business or not allow you to use your home for other purposes. A land title search shows if there are more than one mortgage on the property. If there is the owner of the property must pay this mortgage off before they can sell their property.
2. Understand How a Land Title Search Is Done
It is best to hire a professional to do the land title search for you unless you have experience doing this. The contractor will review all public documents that they will get from the county clerk's office. They will get information from other offices, such as the local courthouse, recorder office, and registry of deeds. It is difficult to get all the information that is needed from one office. The contractor will also get information from land record books or databases. The requirements you must follow will depend on the state that you live in. Your contractor will be aware of these requirements and guide you.
These are just a few reasons you need to do a land title search. If you have more questions about the process, just talk with a land title search company like Document Searching Services. These real estate services can give you much more information about how this process is done.