What is the purpose of a title search?

The purpose of a title search is to identify any liens or encumbrances and determine legal ownership of a property. This process involves examining public records to ensure that the property title is clear, meaning that there are no legal claims against it that could affect the ownership rights. By uncovering any potential issues such as mortgages, judgments, or other claims, a title search protects both buyers and lenders from future disputes over property ownership. It ensures that the person purchasing the property has the legal right to do so and that they are aware of any financial obligations tied to the property that may influence their decisions regarding the purchase. This is a critical step in real estate transactions, as it helps to provide clarity and security to all parties involved.