Bifalgorithm post · Property · The Deed
Title Search
Title Search (Property · The Deed) — "Deeds are important because they can provide notice to others about the ownership status of real estate. A system of cent…
Ideas in this flowchart
- Deeds and public records support verification of real estate ownership and title
- Deeds provide notice to others about the ownership status of real estate
- A centralized public-record system helps determine whether a seller owns the land and has not previously conveyed it
- Grantor and Grantee Indexes allow a purchaser to trace title through preceding owners
- The purchaser looks up the seller in the Grantee Index
- The purchaser checks the Grantor Index for later conveyances
- The purchaser examines the seller’s predecessors, presumably back to a sovereign patent
- The good lead doctrine requires a property description that identifies the granted land with certainty
- Marketable Title legislation can validate an apparently good title
- A sufficiently long search must reveal no contrary grants or claims, often for thirty or forty years
- Purchasers and financing banks may require title insurance when substantial money is invested
- Title insurance protects against title-related claims, including mistakes in a title search
- Title companies maintain title plants containing property-related title information
- Title companies may produce abstracts of title containing documents related to a piece of property
