Farwell Abstract Company provides property buyer services. Some of these services are related to the sale and making sure that there is a clear title or deed while others offer protection against the unknown. If you are considering the purchase of real estate in Farwell, make us your first stop to ensure that everything goes smoothly.
Please take a moment to review our services below. If you have any questions or are ready to schedule an appointment, send us a message or give us a call at
What is the purpose of a title exam?
A title examination involves careful searches of public records which may affect a title to real estate. This may include a review of past wills and deeds, trusts, or any other former claims to the property. The first thing this does is ensure that the title is clear of liens or other issues which would need to be legally corrected before the sale can be complete.
For instance, if a person were to sell a property which they believed they owned but was in fact never legally transferred to them, they could not sell the property. Without a title examination, the sale could close and later, the true owner could rightfully make a claim to the real estate. This would be the same as buying stolen property and the courts would almost certainly rule in favor of the rightful owner. Naturally, this would be very costly to the new (illegitimate) owner; the title exam helps prevent such a situation from happening.
In some cases, a title exam could return that the title is “defective.” This happens when a previous owner either did not have clear title as believed, the title contained an incorrect property description, or there exists some other previously unnoticed issue.
One of the key elements of a title search involves checking the chain of title, which is the history of the title as the property is sold from one person to the next to the next and so forth. When checking the chain of titles, the examiner will search for deed notations, judgments, death certificates, joint tenancies, foreclosures, or other title transfers which may affect the transfer of the property.
Quite often, insurance companies will not issue a policy until the title exam has cleared.
Farwell Abstract Title Exam
At Farwell Abstract, we do what is called our Due Diligence when performing title exams. What is simply means is that we do everything within our power to ensure that the title to a property is clear. We check every public record and carefully examine the title chain.