Closing, title & notaryAll terms starting with T
Title search
An examination of public records to confirm ownership and surface liens, easements, or other claims.
The search traces the chain of ownership and looks for anything attached to the property: mortgages, tax liens, judgments, easements, and restrictions. Findings are listed as exceptions in the title commitment.
Reading the commitment’s exceptions during due diligence is worthwhile: an easement or restriction can affect how you are able to use the property.
Related terms
- Title insuranceA policy protecting against defects in a property’s ownership history, issued after a search of the public record.
- LienA legal claim against a property securing a debt, which generally must be resolved before clear title transfers.
- DeedThe document transferring ownership of real property, recorded in the public record at closing.
- Due diligenceThe defined window after acceptance when a buyer investigates the property and can act on what they find.
More in Closing, title & notary
Have a question about your own situation?
Ondo handles brokerage, lending, property management and notary under one roof, so the answer does not change depending on who you ask.