Title, Title Abstract, Title Insurance...what does it all mean?
Your TITLE, is a document that indicates rights of ownership and possession of a particular property.
A TITLE ABSTRACT is a summary of the public records relating to the title of a particular piece of land. An attorney or title company reviews an abstract or title to determine whether there are any title DEFECTS.
TITLE INSURANCE protects lenders and homeowners against loss of their interest in a property, due to legal defects that may be in the title.
A TITLE SEARCH or TITLE EXAMINATION is a check of the title records - generally at the local courthouse, to make sure that buyer is purchasing a house from the legal owner - and there are no liens, overdue special assessments or other claims.
And NOW...you know all you want to know about TITLES. (if not...drop me an email at Cindy@HomesBuddy.com with your questions! 