[B]What is it called when you hire some one to see if a deed is clear?[/B]

Discussion in 'Homesteading Questions' started by mrs.H, Jan 21, 2007.

  1. mrs.H

    mrs.H Romans 8:28

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    If we wnt to owner finance a piece of property who do we contact for making sure the property dosen't have any leans or what-not?

    Thanks,
     
  2. Pony

    Pony Well-Known Member Supporter

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    It's a title search, and you buy title insurance once the title clears, just in case the researcher missed anything.

    (BTW, when there is a claim against real property, it's spelled "lien" -- don't know why, but that's how it is. :shrug: )

    Pony!
     

  3. hillsidedigger

    hillsidedigger Well-Known Member

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    A survey will often reveal many critical aspects of a property that would not be revealed by a title examination - unwritten conveyances which are quite common and can be nebulous cannot be discovered by title searches. As well, the quanity of land remaining in a parent tract after one or more outconveyances is not necassarily readily determinable merely from a title search.

    Title exams determine if a property is.

    Surveys determine what and where a property is.
     
  4. mrs.H

    mrs.H Romans 8:28

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    Thank you Pony. That's what I was looking for.

    I am not the worlds best speller. Sometimes I amuse myself and others! :) As for grammar - eeek! :)
     
  5. mrs.H

    mrs.H Romans 8:28

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    Thank you too hillsidedigger. We have a survey, but it is different from an earlyer one done on the property. The later one is filed at the courthouse. The clerk entered the later one and said that it was the one that counted. I personaly heard this. So it's not just hear-say from some one trying to part me from my money.

    If this doesn't seem to make sence, it might be that I'm sleepy and having a hard time formulating a coherant thought!
     
  6. margo

    margo Well-Known Member

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    Here it's called title search. Be sure to have them go back as far as the last century even, because locally there was right of way info dropped from deed by recorders and some folks lost rights to a large piece of their property. A bridge and approach is to be built right thru their garage/shop and there's nuthin can be done but tear it down.......sad but true :Bawling:

    Margo
     
  7. MarleneS

    MarleneS Well-Known Member

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    The best advise is to hire an attorney to handle the legalities of the purchase of the property, which will include a title search. It might seem like money you do not wish to put out at this time, but if anything every happens in the future this will be insurance that you have legal recourse.

    Most Clerk of Courts, or their assistants will help someone do their own title search, or will atleast show you where and how to find the books or micro files on the property in question. In some court houses you can now simply enter a file number if you know it, or the legal description of the property into a computer terminal and it will give you all recorded transactions on said property. All liens against said property only have recourse if they are also recorded. It will take a good chunk of your day, but little from your pocket. If you do not feel comfortable doing it yourself, ask the Clerk of Courts for a reference.

    Most important of all, before you sign anything make sure to not only read it, but that you also understand to what you are agreeing.

    Hugs
    marlene
     
  8. Dutchie

    Dutchie Well-Known Member Supporter

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    You can have a title co to do the title work. That title co can also sell you title insurance, which is not very expensive but highly recommended (I have NEVER bought any real estate without title insurance). Then, if you want, you can hire an attorney to have the title "read".

    Also, there are several kinds of liens. Once is a previous owner who has not been cleared from the title. In this case it requires a Quit Claim Deed to have this person removed, provided you can find him/her.

    Another one is a tax lien or, in states where this is permitted, a lien by a contractor who has provided a service pertaining to the property and wasn't paid. Those types of liens are paid from the seller's proceeds at closing. The title co will automatically cut the check for the lien holder.
     
  9. Michael W. Smith

    Michael W. Smith Well-Known Member

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    Marlene S is correct, that the Clerk of Courts can help you look this information up yourself. As long as you know what parcel number the property is or who currently owns it, you can find the information recorded clear back on that property.

    Our courthouse have everything in Deed books with the books going back to the late 1800's! Of course, those were all handwritten books, but it certainly is neat to look at the fancy handwriting people had back then.

    Find the last deed in the deed book, and you can go back from there as it gives you the Deed Book Number and what Page the previous deed was put in. However, it can get confusing when it gets back to your parcel being included in a much bigger parcel as you go back. But you can make sure there aren't any right of ways on the property or other things that may have been left out on current deeds by going back and comparing the current deed with the previous deeds. You'll even know how much the property has been sold for each time it changed hands!

    Of course, if you don't live in the area, you'll either have to make a trip (and has been said, plan on spending a better part of a day there), or hire someone. Good luck!