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Louisiana real estate: What is a title examination?

When you are ready to purchase a home in Louisiana, there is a lot of paperwork that goes into the process. One of the most important pieces of documentation is the title. Keep reading to know what a title examination is and what happens during this vital step in buying a home.

What is a title examination?

A title examination is a process where an attorney or a licensed title insurance company reviews the public record to determine the ownership and status of a property. They will also search for any liens or other issues that could impact the title. This is a crucial step in buying real estate because you don’t want to purchase something that someone else has a claim to.

What happens during a title examination?

During a title examination, the title insurance company will review all relevant documents related to the property, such as deeds, mortgages, and liens. They will then search for any potential problems with the title. Additionally, they will research any previous sales of the property to ensure that there have been no changes in ownership. If they find anything, they will work with the seller and buyer to resolve them. This can include anything from clearing up a lien to getting a deed re-recorded.

Why is a title examination important?

A title examination is important because it ensures that the seller legally owns the property and that there are no outstanding issues with the title. This can help protect the buyer in case of any problems down the road. It can also help avoid costly legal disputes between buyers and sellers.

Protecting the title to your property

Buying a property is a big investment, and that has a great potential of raising income or providing security when securing a loan. Consequently, there is a rising scam where people steal houses in Louisiana by forging titles. To avoid being a victim, periodically your property record on Louisiana public records. Also, purchase title insurance to protect your home from any threats from anyone.

Your property title is your armor against financial loss. Make sure to update after significant changes like after divorce, inheritance, or when you buy a property with another person.