A property title search is the process of gathering documents that show who has the legal right to own the property in question and, through that ownership, to sell it. While it may seem simple and obvious that the home seller is the owner, there may be hidden claims or liens on the property by other parties that the seller and buyer may be completely unaware of. To avoid any last minute surprises and guarantee that the buyer becomes the sole owner of the property, a property title search is critical to ensuring any property transaction goes smoothly for all parties. Scott Title Services has been offering the highest quality in property title search services for over two decades to clients throughout New Jersey.
How is a New Jersey Property Title Search Conducted?
A property title search usually occurs once an offer to buy a piece of real estate has been accepted. The title company goes through a process of rigorously examining multiple sources to determine if the property is free of liens, pending lawsuits, unpaid taxes, leases, easements, mortgages, and other outstanding issues or restrictions that could impact the transfer of ownership. This includes looking at deeds, divorce cases, county land records, bankruptcy records, and other financial judgments potentially attached to the property. A clear property title search means the buyer and lender agree that no outstanding issues could crop up after ownership has been transferred.
This process may also include a property survey to ascertain the dimensions of the plot of land the property is located on and to ensure that the property is actually located within those boundaries. A title search is also required if a home or business owner wants to mortgage their property and the bank wants to ensure the transaction.
Ownership History and Abstract of Title
After the title search is finished, the title company will know the history of ownership of the property in question. Based on this history, the title company will prepare a summary of the findings, known as an Abstract of Title. A legal document called a Title Opinion Letter will then need to be issued that demonstrates the validity of the title. If the title is considered valid, the title company can then proceed to issue title insurance.
Once a property title is considered legitimate, the title company will then issue title insurance. This insurance protects both property owners and lenders against losing the property due to defects such as liens, encumbrances or errors as well as covering the costs of defending against future, unforeseen claims on the property.
Commonly Asked Questions About New Jersey Property Title Searches
We get a lot of questions from our New Jersey clients about the title search process. Here are some common questions we are asked:
- How Long Does It Take for a Property Title Search in NJ?
- Why is a Property Title Search Important?
- What is Involved in a Property Title Search?
- How Far Back Does a Property Title Search Usually Go?
- What is the Purpose of a Property Title Search?
- What Will a Property Title Search Reveal?
- Who Pays for Property Title Search in NJ?
- Are Property Titles Public Record?
- How Much is a Property Title Search in New Jersey?
- How Do I Check if My Property Has a Clear Title?
- Is a Title Search Required When Refinancing?
- How to Resolve Common Title Issues?
- Who Performs a Property Title Search?
- Are There Any Problems That a Title Search Cannot Reveal?
- Can You Do a Property Title Search On Your Own?
We can help you understand the property title search process with answers to these questions and more.
Experts in New Jersey Property Title Search Services
At Scott Title, we have conducted rigorous, thorough and accurate New Jersey property title searches for more than 20 years. Our experienced title search agents take care to ensure all the necessary information and correct documentation is accounted for in each title search we handle. From our office in Red Bank, our team has managed title searches for clients in Monmouth, Ocean, and Middlesex counties, and throughout the rest of New Jersey, simplifying what would be an overwhelming process for our clients and dealing with potential problems before they can cause serious issues. Our in-depth research sets us apart from others in our industry.