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Title Search Requirements
Buying real estate is one of the
most important investments a person can make. The soundness of that investment
depends upon the condition of the title to the land, because what you buy is
not land but the title to the land.
Land is both permanent and
immovable. No other property has a useful life that compares with it. Owners
die, new ones take over; the title itself can be sold, exchanged, borrowed
upon, given away, etc. All these possibilities, and many others, add layers of
rights and obligations that don't necessarially disappear with the previous
owners. These often stay with the property and are assumed by the new owners.
The best way to determine the condition of the property title, is through a
title search, which, if engaged through The Settlement Company®, will
provide information regarding pertinent legal documents, a condensed history of
the property ownership and related matters.