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What
is an Abstract or Title Search?
Just
about every deed or mortgage transaction requires that a title property search be performed
before closing. This guarantees the lender that no
problems,
encumbrances, or other liens endanger the lender's financial position in
the event of default
This process requires that an
insured abstract company searches all courthouse land records relative to
the
particular piece of property involved in the closing.
This search involves a chronological listing of each and every owner,
using various indices back to a certain period in time. The search will reveal liens, judgments, mortgages, taxes,
and any recorded item connected to the property.
Can
you have your own abstract done? Yes, but we recommend
that you hire a real
estate attorney prior to any transaction
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