These documents are maintained in hard copy paper format or sometimes scanned into image files.
The process of performing a title search involves accessing the official land records for the subject property.
A deed records an event of property transfer, mortgage documents the collateral interest of a home loan, and a lien documents a claim against the property in favor of another, such as a creditor, vendor, or tradesman.
In the case of a deed, the grantor would typically be the property seller, and the grantee the buyer.
Some title abstractors have certifications documenting their experience level and training and successfully having passed an exam.
A previous owner may have legally given a neighbor the right to share the driveway, or the city may have a right to strips of the property for putting power lines, communication lines, water pipes, or sewer pipes.
A few online services offer title searches for relatively little cost, and their accuracy is not inferior to what a title company or attorney will offer; however online businesses rely mostly on electronically available information, and for that reason could at times be limited both in completeness and geographical availability.
However, title searches are most often carried out before contracting is completed between parties, and sometimes during the escrow phase of a closing.
A home foreclosure is often linked with liens held by banks or governmental agencies.
Public auctions (also known as sheriff’s sales or foreclosure auctions) are typically held in the municipal or county courts, which neither guarantee an unencumbered title nor offer protection to buyers against additional liens on the property.