WHAT IS A FULL TITLE SEARCH ?
A Full Search Report, also known as a Full State Statute Search, is considered the most involved property research reports. It involves a thorough review of all documents recorded during the subject state’s statute period which typically varies 30-60 years based on the State. This comprehensive report typically includes detailed ownership history covering the entire statutory duration, potential claims and encumbrances against the property’s title, including outstanding mortgages and unpaid liens, unsettled court cases involving current and previous owners, current tax status, as well as all essential covenants, restrictions, easements, agreements, notices and other relevant documents affecting the subject property.
A Full Search Report enables buyers and lenders to thoroughly assess the property’s ownership and identify any potential risks or issues related to its legal status. This may uncover defects in property’s title and ownership rights.
Who Needs a Full Title Search and Why?
A Full Title Search is a comprehensive examination of a property's history, essential for securing real estate transactions. While various professionals rely on title data, certain roles require the exhaustive detail provided by a full search. The primary clients for this service are professionals dedicated to ensuring the integrity of a property's title.
These real estate professionals include:
Title Insurance Underwriters
Title Agents
Settlement Agents
Escrow Agents
The principal reason these professionals require a Full Title Search is for the issuance of title insurance policies related to real estate purchase transactions. This search is the foundation for both an Owner's Title Insurance Policy, which protects the buyer, and a Lender’s Title Insurance Policy, which safeguards the financial institution's investment.
By conducting a meticulous review of the entire chain of title, the search confirms that no outstanding liens, encumbrances, or other defects will challenge the new owner's or lender's rights to the property. This process is critical for ensuring that both the new owner and their lender secure a senior lien position, free from prior claims.
Additionally, a Full Title Search may be necessary in other specific circumstances, such as for pre-foreclosure noticing, to identify all parties with a legal interest in the property. However, its most vital function remains the validation of a clear title for the purpose of issuing insurance and facilitating a secure property transfer.
Check your price here
A small cost now could save you thousands in the long run
WHAT IS INCLUDED IN A FULL 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 for both the current as well all prior owners who held title within the past 30-60 years depending on the State’s statute.
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 Full Search Report.
The pertinent copies of all land record documents included in the report.
PLEASE NOTE:
1) We exclusively conduct property records searches through the Recorder of Deeds.
2) 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.
Don't Invest in a Problem Property
Invest correctly. Order your Title Search Today.
