What is Title Search Report?

If you are planning to buy a property, whether it is a house, a plot, or a commercial space, you might have heard of the term “title search report”. But what exactly is it and why is it so important? In this blog, I will explain what is title search report, how to conduct it, and what benefits it can offer to you as a buyer.

What is Title Search Report

A title search report is a document that summarizes the history and current status of a property’s ownership and legal rights. It is usually prepared by a lawyer or a professional title search company before a property transaction, such as buying, selling, mortgaging, or leasing. The purpose of a title search report is to ensure that the property has a clear and marketable title, free from any defects, encumbrances, or disputes that could affect the transfer of ownership or the validity of the transaction.

A title search report typically includes the following information:

• The legal description of the property, such as its address, area, boundaries, and survey number.
• The name and address of the current owner and the previous owners of the property, along with the details of how and when they acquired and transferred the property.
• The details of any mortgages, liens, charges, easements, leases, or other encumbrances that affect the property or its title.
• The details of any pending or past litigation, arbitration, or court orders that involve the property or its title.
• The details of any government approvals, permissions, or certificates that are required for the property or its transaction.
• The details of any taxes, dues, or penalties that are outstanding or payable on the property.

How to Conduct Title Search Report

To conduct a title search report, you need to follow these steps:

• Identify the property you want to buy and locate its legal description and survey number.
• Visit the office of the sub-registrar of assurances where the property is registered and obtain copies of all the documents related to the property for a specified period of time (usually 12 to 30 years).
• Examine all the documents carefully and verify their authenticity, validity, and completeness. Check for any discrepancies, errors, omissions, or gaps in the chain of ownership. Look for any signs of fraud, forgery, misrepresentation, or illegal activities by the seller or any third party.
• Trace all the transactions that have taken place on the property and confirm that they have been duly registered and stamped. Ensure that all the necessary consents, approvals, and permissions have been obtained from the relevant authorities and parties. Verify that all the taxes, dues, and penalties have been paid on time and in full.
• Identify any risks or issues that could affect the title of the property or its transaction. These could include any defects in the title (such as adverse possession, inheritance disputes, matrimonial claims), any encumbrances on the title (such as mortgages, liens, charges), or any disputes over the title (such as litigation, arbitration, court orders).
• Prepare a comprehensive report based on your findings and analysis. The report should include all the relevant information about the property and its title. It should also highlight any risks or issues that you have identified and suggest ways to resolve them.

Why You Need Title Search Report Before Buying a Property

A title search report is important because it helps you to:

• Verify the legal ownership of the property and ensure that the seller has the right and authority to sell it to you.
• Identify any potential risks or issues that could affect your transaction or your rights as a buyer.
• Protect yourself from fraud, forgery, misrepresentation, or other illegal activities by the seller or any third party.
• Avoid any future disputes or claims that could arise from defects or errors in the title.
• Negotiate better terms and conditions with the seller based on your knowledge and awareness of the property and its title.

Therefore, it is advisable to conduct a thorough title search before investing in any property. It will save you from a lot of trouble and money in the long run.

I hope this blog has helped you to understand what is title search report and why you need it before buying a property. If you have any questions or comments, please feel free to share them below. Thank you for reading. 😊