Escrow & Title
A South Carolina title search examines public records to verify:
AThe property's current market value
BThe chain of title and any encumbrances on the property✓ Correct
CThe property's compliance with building codes
DThe current owner's creditworthiness
Explanation
A title search reviews recorded documents (deeds, mortgages, liens, judgments) to establish the chain of title and identify any encumbrances or defects 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).
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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