What is a title search?

A title search is fundamentally an examination of public records that serves to determine the legal ownership of a property along with any claims or liens that may exist against that property. This process is crucial in real estate transactions because it ensures that the seller has the right to sell the property and that the property is free of any undisclosed encumbrances. Through the title search, potential issues such as unpaid taxes, unresolved mortgages, or claims from previous owners can be identified, allowing buyers to make informed decisions and lenders to assess the risk of providing financing.

The other choices do not accurately reflect what a title search entails. For instance, a summary of all mortgage payments relates specifically to the financial history of the property rather than ownership, and a document issued by the local government for tax purposes does not provide ownership details but rather tax assessments. Lastly, a report evaluating the condition of a home focuses on the physical attributes of the property and does not pertain to legal ownership or claims.