Title Current Owner
A "current owner title search" is a specific type of title search that focuses on the present owner of a property and the records associated with their ownership. While it might not be as extensive as a full title search, it still includes vital information. Here's a breakdown of what it typically encompasses:
Key Components:
Verification of Current Ownership:
- This confirms who the legal owner of the property is, based on the most recent recorded deed.
- It involves examining the vesting deed, which is the document that transferred ownership to the current owner.
Identification of Liens and Encumbrances:
- This part of the search reveals any outstanding financial claims against the property, such as:
- Mortgages: Existing loans secured by the property.
- Liens: Claims by creditors, contractors, or government entities for unpaid debts.
- Judgments: Court-ordered obligations that affect the property.