What are types of Title Search Services Texas offered by SKP Title Search Services?

Well, you have planned to buy a property in Texas and looking for the best way to have a successful closing. Today, almost all the buyers have realized the efforts that they are taking while planning to purchase a property. But, still, there are some procedures that every buyer should undertake to ensure that the property they are planning to buy is free from all the legal issues by undertaking the title search services Texas which are ever considered to be the most valuable process down the road. When a buyer addresses the mortgage lender to buy a property, it is a must to have clear titles as this will save them from all the legal issues that may occur later.

When it comes to purchasing a property in Texas, conducting a property title search services Texas is an indispensable part. You may have heard about the term title search but if not explained well, your understanding of it may fall to the wayside. If you are keenly interested to know about the title search services, and what are the types available, you have come to the right place. Below comes a brief on what is a title service and what are the types of title search services available and how those services will be reflected on your property purchase.

What are a title and a title search?

A title is nothing but the collection of rights reserved for the real estate property whereas a title search is an inspection of public records to determine and confirm the rightful owner of the property. A title search will also help find out what claims or liens are available on the property that the buyer is going to purchase. Indeed, title search services will ensure that the person selling the property has the appropriate rights over the property and the person buying the same property will be receiving all the rights of the property.

Types of property title search services Texas

  • 1. Current owner search
  • The current owner search involves searching the details of the present title holder of the property and the latest deed with consideration. This search will be conducted by searching from the current date backward. The details covered by this search are vesting deed, current tax status, open mortgages, judgments, liens, mortgages, legal descriptions, and county assessment information. In general, this search will be done for the origination of home equity transactions, foreclosure auctions, short sales, and pre-tax auctions.

  • 2. Two owner search
  • Two owner title searches will be done for the last two owners in the chain of title of the subject property and the title search will be conducted from the current date backward.

  • 3. Full search
  • A full search will be performed in detail on current and previous owners of the property subjected to buy. This search will be including all names in the chain of title and will report liens and judgments for all owners including the current and the past owner. The names must be run for general liens, like that of the judgments and federal tax liens for the complete statutory period applicable to the state.

    This search document additionally covers all the defects, liens, and encumbrances specifically referred to in the search and all those must be reported as exceptions until they are properly disposed of. This also includes the searches on property liens, easements, CC & Rs-covenants, restrictions, conditions, resolutions, agreements, and ordinances that affect the real property. Also, this may include historical searches for up to 50 years for additional pricing.

  • 4. Deed search
  • Deed searches are done to check the full value deed to begin the search and also to provide the chain of title.

  • 5. Update search
  • An update search will be performed on the subjected property from the date of the last search to the current date. An update search report will be provided on all the documents posted and recorded during the search period. In general, this type of search will be performed right before the closing takes place.

  • 6. Liens and judgment search
  • This type of search will be done to check if there are any liens existing over the property or not.

  • 7. Bankruptcy search
  • A bankruptcy search is done to check if there are any bankruptcies filed against the existing property owner.

Final thoughts

Thus, performing title search services Texas is a must to do process when you are planning to purchase a property in Texas. To get the services done, you can hire the best company like SKP Title Services who will make sure that you are buying a property that is free from all the issues arising in the nearest future.

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