A title search is the process of examining all relevant records to confirm that the seller is the legal owner of a property and that there are no liens or other claims outstanding. It is an analysis of the status of the title of a property including property description, names of title holders, how the property is held, etc. The title researcher collects the information on record for the property and compiles the results in a report called a “Title Search”.
A title search can be sought for a variety of purpose. Some users are interested in the purchase of the property for investment purpose. These users are desirous of knowing the past history of the property as well as the present status of the property. Some users are real estate buyers, who are desirous of knowing the ownership of a property. Knowing the past history, ownership, present status, liens, mortgages, etc. of the property helps the purchaser to negotiate the price of the property. It also helps the users to keep a check on their own property by regularly updating themselves about the outstanding liens on their property, if any.
A title search can be done by anyone. The records of the property can be extracted from the local departments, but to extract the relevant information, documents, etc. can be complicated and time consuming. One should know exactly what one desires, or else it can result in waste of time, energy and money. Using our services ensures that someone with experience in collecting all relevant documents is performing the title search.
There are few chances of a title defect appearing, but a real estate transaction entered into without having a title search can lead to devastating financial consequences. Getting a title search can reduce the chances of future losses.
Chain of title refers to the sequence of ownership created by the repeated buying and selling of the same property. Each time a property is sold and purchased a new ownership is created which over time results in a chain of title.
A title search can reveal the details about the title and ownership of the property as well as it can also show any title defects, liens, and other encumbrances and restrictions, attached to the property, which may limit the use of the property.
Yes. There are some "hidden hazards" that cannot be revealed by even the most diligent title search. The hidden hazards may include fraud, forgery, defective deeds, mental incompetence, confusion due to similar or identical names, and clerical errors in the land records. These defects can arise anytime and can jeopardize your right to ownership in part or full.
No one can be sure whether the title is clean or not. Merely relying on the statement given by the real estate broker can prove to be risky. As investment made in the real estate industry is in large amount, you need title search company to provide you with the correct information about your real estate.
The property report usually contains information about the current owner of the property and does not provide additional information regarding the property. The information provided by the property report is insufficient to make a decision regarding the purchase of the property. The title report provides entire details about the property including the chain of documents, liens, mortgages, etc. It helps the buyer to take a rational decision before investing in the real estate industry.
The turnaround time required for performing the title search differs from case to case. It may range from 24 to 72 hours depending upon the nature and complexity of the case. We will contact you in case a longer turnaround is required.
The title search is carried out through records available with the government departments. The process does not involve informing or notifying the owner/ occupant of the property about the title search.
At propertytitlesearch.in we carry out title search for every kind of property, including commercial property. In certain cases the turnaround time for title search of the commercial property may be longer. We will contact you in case a longer turnaround time is required.
No. A deed is just a document used to show transfer of ownership and it is an evidence to show that you have purchased whatever rights the seller had in the property. A deed does not show the liens and claims that may be outstanding against the property nor does it show the rights that others may have on the property
PropertyVakil is a professionally managed organization and is the concept and design of its founder Manish Dev who has been associated and involved in the real estate market for over 15 years and propertytitlesearch.in was launched in the year 2010.
Easement means a right to use the property of another. When an easement exists on a piece of land, the owner of that land must permit others to use the easement for the stated purpose. An easement is a non possessor interest which entitles only to the right to use the land in the specified manner. In case of public easement, the person who owns the land has to allow members of the public to access a defined area of his land for the reasons stated in the easement. .
A restriction which hinders the transfer of property is called encumbrance. Encumbrances include liens on real estate, outstanding mortgages, easements, unpaid property taxes, etc. Encumbrances are attached to the title of the property and can complicate or prohibit or restrict the transfer of the property until they are resolved.
At propertytitlesearch.in we ensure that the clients' information is kept fully confidential and the title search reports, documents, etc. are transmitted through secure web pages. Further, we do not store credit card numbers at our end and we also offer an option of accepting payments via account payee cheque.
At propertytitlesearch.in we have a team of highly qualified and experienced lawyers and advocates, with rich experience in the real estate industry. At propertytitlesearch.in we understand the value of your money and our dedicated and devoted team puts in its best efforts to provide you with a true and fair view of your real estate.
The acknowledgement of the receipt of the payment made by you shall be provided along with the title search ordered by you. The acknowledgement of the receipt shall be sent to you in the same manner as the title search report.