Escrow & Title
The purpose of a title search is to:
ADetermine the physical condition of the property
BExamine public records to verify ownership history and identify any liens or encumbrances✓ Correct
CCalculate the property's market value
DConfirm the accuracy of the property survey
Explanation
A title search examines public records — deeds, mortgages, liens, judgments, easements — to establish the chain of title and identify any issues that could affect ownership.
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Key Terms to Know
Chain of Title
The sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
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