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What is a real estate title search?

On Behalf of | Feb 2, 2015 | Tampa Title Search

A real estate title search is a procedure performed when a parcel of land is transferred to new ownership through a sale or inheritance. The purpose of the report is to research the history of the Tampa property through records for variances or irregularities associated with the real estate.

The report developed and filed from a title search is referred to as an Abstract or an Abstract of Title. It precludes a property Deed and is one of the processes that Tampa real estate law requires when ownership is transferred. The company handling the mortgage also requires the report before any loan can be approved.

A Tampa real estate attorney is uniquely qualified to conduct a title search. The investigation involves researching deed records specific to the parcel. It is often necessary for a qualified professional to visit government offices in order to conduct a physical review of public records to determine legal ownership, and discover if any claims have been made on the home. It is true that some title searches can be conducted online, but it is important to note electronic access will vary from county to county, and it always pays to have a professional who can review paper documents.

The title search will allow you to understand if the real estate is fee simple or leasehold. Reports will expose liens, outstanding easements, judgments, taxes, mortgages or any outstanding claims. It is also possible the title search will result in information regarding covenants from associations and soil survey findings.

The most noteworthy results of any Tampa title search is to discover if there are any unpaid mortgages or liens on the home. Pushing ahead without research means you could purchase a home at a reasonable price, only to find it has:

  • A mortgage in place.
  • Back taxes that must be settled.
  • Easements restricting what you can do to the property.

The title search will disclose problems that could affect your Tampa investment. If a Tampa real estate attorney finds issues with the title, you can inform the seller, and a plan can be developed. Some problems are resolved quickly while others may jeopardize your proposed closing date.

You need to know the Tampa home you are buying has a clear title. The office of Frank Charles Miranda, P.A. is prepared to conduct your title search and provide you peace of mind.