Real Property Search Reports
WHAT IS A REAL PROPERTY SEARCH REPORT
A Real Property Search Report is a report that lists all matters of public record that relate to a certain piece of real property. It gives ownership information, tax information, liens, easements, etc. It provides anything of record that could affect a property one way or another.
WHO PAYS FOR A REAL PROPERTY SEARCH REPORT
In the normal course of business, the party who orders and uses the report is the party who would be held responsible for paying. However, this may vary by state.
WHY SHOULD ONE USE A REAL PROPERTY SEARCH REPORT
They are used most commonly when real property is changing hands. It’s a way for the buyer to know what the status of the property is before they agree to purchase it. It tells them things like if there are utility easements, liens of record, clouds on the title, and it also makes it very clear who is in title to the property and who actually has the right to sell it. They are also used for estate planning, partition plats, lot line adjustments, and lending purposes.