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Welcome to the DeAngelis, McNamara & Cofone P.C. blog! As trusted real estate attorneys in Rhode Island, we aim to provide valuable insights into various aspects of real estate transactions. In this post, we will explore the importance of real estate title searches and what you need to know to protect your property investment.

What is a Title Search?

A title search is a detailed examination of public records related to a property to verify the legal ownership and identify any claims, liens, or other encumbrances that may affect the title. This process ensures that the seller has the legal right to transfer ownership and that the buyer will receive clear and marketable title to the property.

Why is a Title Search Important?

Conducting a title search is crucial for several reasons:

1. Verifying Ownership: A title search confirms that the seller is the legitimate owner of the property and has the right to sell it.
2. Identifying Liens and Encumbrances: It reveals any existing liens, such as mortgages, tax liens, or judgments, that must be addressed before the sale can proceed.
3. Uncovering Title Defects: It helps identify any title defects, such as errors in public records, undisclosed heirs, or boundary disputes, which could impact the property’s ownership.
4. Ensuring Clear Title: Ensuring the title is free of encumbrances protects the buyer from potential legal issues and financial losses in the future.

The Title Search Process

1. Initial Examination: The title search begins with a review of the property’s chain of title, which includes the history of ownership transfers, to ensure a clear and unbroken line of ownership.
2. Public Records Review: The search involves examining public records, including deeds, mortgages, liens, wills, and court records, to uncover any issues that may affect the title.
3. Title Report: The findings are compiled into a title report, which outlines any encumbrances, defects, or issues discovered during the search.
4. Addressing Issues: If any issues are identified, they must be resolved before the closing. This may involve paying off outstanding liens, correcting public records, or obtaining title insurance.

Title Insurance: An Added Layer of Protection

In addition to conducting a title search, obtaining title insurance provides an added layer of protection for both buyers and lenders. Title insurance protects against potential losses due to title defects, undiscovered liens, or other issues that may arise after the purchase. There are two types of title insurance:

• Owner’s Title Insurance: Protects the buyer’s interest in the property.
• Lender’s Title Insurance: Protects the lender’s interest in the property, usually required by mortgage lenders.

Common Title Issues

Several common issues can arise during a title search, including:

• Outstanding Mortgages: Previous owners may have unpaid mortgages that need to be resolved.
• Tax Liens: Unpaid property taxes can result in liens that must be settled before the sale.
• Judgments: Court judgments against the seller can create liens on the property.
• Easements: Rights granted to others for access or use of the property can affect ownership and use.
• Boundary Disputes: Conflicting property descriptions or surveys can lead to disputes over property boundaries.

Why Choose DeAngelis, McNamara & Cofone P.C.?

At DeAngelis, McNamara & Cofone P.C., our experienced real estate attorneys are dedicated to ensuring a smooth and secure property transaction. We provide comprehensive title search services, identify potential issues, and work diligently to resolve them. Our goal is to protect your investment and provide peace of mind throughout the process.

Whether you are buying or selling property in Rhode Island, trust DeAngelis, McNamara & Cofone P.C. to handle your title search with the highest level of expertise and care. Contact us today to schedule a consultation and learn how we can assist with your real estate needs.