Benefits Of Property Title Search in Easton and Lehigh Valley, PA

Posted by TraditionalAbstractPA on October 31st, 2021

Almost all individuals try to increase their assets by investing in property. Buying a home or land is considered the best form of investment since the value grows over time. Unfortunately, the procedure can be complicated with a layperson unable to understand the finer points of law. Having a real estate agent to assist helps, no doubt. Still, the aspirant homeowner must hire a reputed company to conduct a property title search in Easton and Lehigh Valley, PA, before finalizing.

What is a total search, and what is its significance? Many questions are sure to plague the common individual who desires to obtain ownership of a property. It helps to know that a title search is done by checking all possible public records related to the said property. Any illegalities, along with errors in the records, are bound to surface eventually. It is essential to have a clear title record of the property with no other individuals claiming ownership before long.

New homeowners may feel this process was a waste of time as the home has been newly constructed with no previous owners. Sadly, the land on which the house has been constructed may have a long history that needs to be researched thoroughly too. It is best to remember that the search will only reveal the defects in the title without providing a remedy. This makes it essential to buy title insurance from the title company so that the new owner\'s rights remain well protected by law. The coverage can help one to meet the legal expenses should a dispute arise about the ownership of the property. It is best to proceed with the process once the contract for buying the property is transferred to the prospective buyer.  

Some of the defects that may come to light during the title search include:

Errors- Drawing up the documents related to the property and filing t in the concerned Department needs to be done immaculately. Errors and omissions may often creep into the document leading to a mistake in the records. It is most important to hire a legal professional and correct the record before proceeding to the next step.

Liens- The title may be tarnished when the previous owner of the property or the present seller has a judgment placed in the records. The bank or any financial institution may be responsible for placing the lien. It becomes the onus of the new owner to have the pending amount cleared well before closing the deal.

Inheritance- The property of a deceased person passes to the heir via the will. A lack of choice makes the immediate heir the owner of the property according to the law of the State. A title search reveals the actual owner that other interested parties may dispute.

It is beneficial to hire the services of an abstract title company in Easton and Allentown, PA, to get a detailed account of the records.