CURRENT OWNER SEARCH (O & E)

WHAT IS A CURRENT OWNER SEARCH REPORT?

A Current Owner Search Report, also known as a property report, confirms the current legal owners of a property. It includes ownership details from the most recent Arm’s Length Deed (FVD) up to the current effective date in the public records. The report outlines outstanding mortgages, liens, judgments, tax information and any other relevant information recorded during this period. This report assists stakeholders in understanding the property’s ownership and potential financial obligations within the timeframe the current owner has been in title.

Who Needs a Current Owner Search and Why?

A Current Owner Search is an essential due diligence step for a wide range of professionals in the real estate sector. This targeted search of public records identifies the current vested owner of a property and reveals any open mortgages, judgments, or liens affecting the title. Understanding who benefits from this search—and why it is critical—can safeguard your investments and ensure the integrity of your transactions.

Who Should Order a Current Owner Search?

This service is indispensable for:

• Real Estate Investors and Tax Sale Investors: Before committing to a purchase, especially at auction or a tax deed sale, an investor must verify that the title is clear. A Current Owner Search is a fast and effective way to uncover financial encumbrances tied to the property.

• Real Estate Attorneys: Attorneys representing clients in foreclosure proceedings, quiet title actions, or property disputes rely on these searches to establish a clear and accurate record of ownership and liabilities.

• Title Agencies and Underwriters: For pre-foreclosure reports or to prepare for issuing title insurance, a Current Owner Search provides a foundational overview of the property's status.

• Real Estate Agents: Agents can use this information to better advise their clients, identify potential hurdles early, and facilitate a smoother closing process.

The Financial Risks of Forgoing a Title Search

For investors, purchasing a property without a comprehensive review of its title history is a significant financial gamble. When you acquire a property, you also acquire any outstanding liens or judgments attached to it. An undisclosed lien can instantly turn a promising investment into a costly liability.

Imagine purchasing a property at a foreclosure or tax auction, only to discover later that it carries thousands of dollars in unresolved debt from a previous owner's mortgage, unpaid taxes, or a contractor's lien. These obligations become your responsibility. Failure to perform a Current Owner Search can lead to:

• Unexpected Financial Burdens: You may be legally required to pay off liens you were unaware of, potentially costing you thousands and erasing any expected profit margin.

• Title Defects and Ownership Challenges: Unresolved claims can cloud the title, making it difficult to sell or refinance the property in the future.

• Legal Complications: Clearing a clouded title often requires lengthy and expensive legal action, further draining your resources and delaying your return on investment.

At Blazer Title Search, we provide the accurate, immediate, and reliable reports you need to make informed decisions. A Current Owner Search is not just a procedural step; it is your first line of defense against unforeseen financial risk and a cornerstone of any successful real estate investment strategy. Partner with us to ensure your next acquisition is secure and profitable.

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WHAT IS INCLUDED IN A CURRENT OWNER SEARCH REPORT?

• Land Records Effective Date of specific county.

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

• Vesting and chain of title information from the latest full value deed.

• 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.

• 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 Current Owner Search Report.

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

• Land Records Effective Date of specific county.

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

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.

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