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What is a Home Title?

Answer:
Title is a record of property ownership, in

which an owner has the legal right to possess or dispose of a property. In a real estate transaction, a title documents property ownership. The law protects this transaction; thus, an unknown party cannot make a claim on someone else's property. A new home purchase can be a lengthy and arduous process. To ensure that a homebuyer has the legal right to buy and re-sell a property, a title search is preformed prior to the home sale.

A title search closely examines the title and looks for any liens that may exist against the property. All liens must be paid at closing. In addition, a title search will reveal any recorded legal rights to the property. For example, the previous homeowner may have given legal rights to a child, sibling, or friend. What's more, a city or town may have legal rights to a property, in which city construction or re-zoning is permitted.

Anyone can challenge a homeowner's legal right to a property. Worse, a title search could have missed a recorded lien on the property. In any case, real estate titles include title insurance, which serves as a protection to property owners. If title problems arise, the title company defends the title in court and pays all covered expenses.


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