2- OWNER TITLE SERACH (Pre-Foreclosure)

WHAT IS A TWO OWNER TITLE SEARCH ?

A Two Owner Search Report thoroughly examines the property’s ownership history for the past two owners, verifying the title through the two most recent arm’s length transactions. It identifies any potential issues related to both the current and previous owners, providing detailed information on outstanding mortgages, liens, judgments, tax information and any other relevant information recorded within the scope of the two-owner search period. This report is typically ordered for the origination of refinance loans, home equity loans, short sales, foreclosure auctions, and tax sale auctions, enabling buyers and lenders to identify any potential issues or discrepancies.Top of Form

Who Needs a Two Owner Title Search and Why?

A Two Owner Search is an essential due diligence tool for various professionals in the real estate and legal sectors. This search provides a detailed report of a property's title history, tracing ownership back through the two most recent owners. Its targeted scope makes it an efficient and cost-effective solution for specific transactional and legal requirements.

The following professionals regularly rely on Two Owner Searches to mitigate risk and ensure procedural accuracy:

• Title Companies: During a refinance transaction, title companies use a Two Owner Search to verify the current owner's title is clear of new liens or encumbrances that may have been recorded since their purchase. This step is critical to issuing a new lender's title insurance policy.

• Attorneys (Pre-Foreclosure): For pre-foreclosure due diligence, attorneys order a Two Owner Search to identify all lienholders and interested parties who require legal notification. This ensures compliance with state statutes and prevents procedural defects that could invalidate a foreclosure.

• Counties (Tax Deed Sales): When preparing for a tax deed sale, county governments must notify all parties with a legal interest in the property. A Two Owner Search provides the necessary information to ensure all statutory notice requirements are met before the sale.

• Quiet Title Attorneys: Attorneys initiating a quiet title action use this search to identify all potential claimants to a property. The findings are fundamental to the legal process of resolving ownership disputes and clearing title defects

• Real Estate Investors: Investors involved in non-judicial foreclosure proceedings depend on Two Owner Searches for accurate noticing. This is a mandatory step in processes such as:

  • Barment in Georgia

  • Notice of Petition for Tax Deed in Indiana

  • Notice of Collector's Deed in Missouri

For these professionals, a Two Owner Search is not just a preliminary step but a foundational component of their work, ensuring that transactions and legal actions proceed on a solid and compliant footing.

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WHAT IS INCLUDED IN A TWO OWNER TITLE SEARCH

• Land Records Effective Date of specific county.

• Property Information including property type, legal description and PUD/HOA information.

• Vesting and chain of title information for both the current as well as prior owner.

• Unreleased mortgage(s) executed by current owner(s) and documents associated with open mortgages.

• Unreleased Judgments & Liens against the property and its owners with in the state statute.

• Unsettled Court Cases filed against the owner(s) that are not ruled out by statute.

• If a foreclosure deed is present, the foreclosed case docket (aka case history aka case proceedings) is provided.

• Open UCCs, amendments and continuation statements, filed on the subject property within the statute of limitations.

• All exceptions such as CC&R’s, Easements, ROW, etc. recorded during the current owner search timeframe and affecting the property in question.

• Any additional documents such as POA, affidavits, agreements, notices, etc. pertaining to the property.

• Bankruptcy and US District Court Civil Case status for current owners and recent foreclosed owners within last 3 years.

• Current year tax information (with exception to Pennsylvania) including any delinquencies and assessment values..

• Patriot search including docket information for any findings related to current owners.

• All findings will be typed into a Two Owner Search Report.

• The pertinent copies of all land record documents included in the report.

  UPGRADE OPTIONS FOR TWO-OWNER TITLE SEARCHS:

  You can extend the search to cover 30, 40, 50 years, or opt for a Full State Statute Search to trace ownership history and uncover any unpaid encumbrances or property related documents recorded prior to the two-owner search timeframe..

PLEASE NOTE:

1) Taxes are included where ever tax collector readily provides information without any charges.

2) We exclusively conduct property records searches through the Recorder of Deeds.

3) Additional charges may apply for property records searches conducted outside the Recorder of Deeds. For example, Foreclosure copies and Estate searches may be subject to additional charges.

4) In the event the current owner search exceeds the online county records, a ground abstractor may be required to compelte the search. This will come at an additional costt to the client. We will notify you pomptly if this is required to request your permission to proceed.

Providing Security Through all Phases of the Foreclosure Process

Proceed with the confidence that every person will have a chance to exercise their interest in a property.