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	Summary of Articles
1.	Introduction
2.	Why should a property buyer or lender insist on getting a title report?
3.	What are important elements in Title report for a property?
4.	What care should a lawyer/Attorney take while preparing a title search report?
5.	What should the attorney specify in the title report on the property?
6.	How does this apply to buying property?
7.	Reference
8.	Conclusion

Introduction

What’s needed for a title search for a property? Buying a house is the basic resolve and desire of every couple to live happily on earth. As well as. Be it any country on earth like America, Australia, Britain, Japan, Germany or India, etc; And, owning property is a constitutional right of every couple on earth. Every couple is seen working hard and struggling to buy a property.

What a great story. Let me try to explain to you the importance of legal verification of property title with an example. Suppose you are smilingly living in the year 2000 buying a house to live in without any legal due diligence on the property. And, you believe to consider yourselves the luckiest couple in the world.

Suddenly in the year 2015, you get a notice that your property has been mortgaged for many years. And, we want to recover the loan amount by auctioning your property to recover the interest and principal amount.

It is natural to feel that you have cheated or are a victim of a scam now. Then when you take the papers to consult an expert property lawyer, you find out that your property title is defective. Because of this, you have to wash your hands of ownership and possession of the property. Please to be noted this.

I hope that through the example I have described above, you have understood that before buying a home. It is beneficial to make a buying decision only before checking its ownership and its title. Now, without wasting any more time let me share with you my experiences in detail about title search for property. Hope you like this article. Read more…

Are you passionate to read:  Title search Part-I

Why should a property buyer or lender insist on getting a title report?

You see your attention. A property buyer should insist on obtaining a title report for the following reasons. Please to be noted this.

5. If the mortgagor's property title is defective or irregular manner. Hence the execution of the mortgage cannot be legally effective.
6. In situations. Whether the property is rented or leasehold the tenant of the property can create problems for you.
7. The legality of the mortgage is jeopardized. When any person's interest or right in the mortgaged property is concealed.
8. A prior encumbrance can claim priority. When there is a prior encumbrance or foreclosure on the mortgaged property.
9. Possession of the mortgaged property by an encumbered person legally/illegally creates problems after execution or purchase of the mortgage.
10. When there are arrears or income tax or other tax liability on the property mortgaged or held for sale. Hence, the revenue authorities can object to such property and attach it if necessary.
11. Difficulties may arise during the lien or after the purchase of the property. Being mortgaged or proposed to be sold is placed under reservation in a government plan or acquired or placed in a no-development zone.

What are important elements in the Title report for a property?

You or the people buying the property often wonder what is included in the property title report. Here I am showing you the solution to your dilemma.

1. The true owner of the property
2. The true possessor of the property
3. Easement Rights
4. The physical status of the property
5. Liens of the property
6. Partnership
7. Joint ownership
8. Individual ownership
9. Applicable law
10. Private-Public limited company
11. A legal frame of the property
12. Legit authority to transfer property
13. Tax liability

Consultation for legit evalution +(91) 814.004.3411

What care should a lawyer/Attorney take while preparing a title search report?

1. Search and verify at least 30 years of revenue records of the title report for the property.
2. Verification of all ownership original
3. Society's No-Objection Certificate in case of society's property.
4. In the case of a partnership firm, search in its registrar's office.
5. In the case of private or public limited, search in its registrar of the company’s office.
6. Approved plan and permission for construction

Are you passionate to read about:- Home loan law 

What should the attorney specify in the title report on the property?

It is mandatory for any attorney to specifically specify the following in his title search report for the property.

1. Independent and wholly owned by the owners selling or mortgaging the property
2. Capacity and role of property seller or mortgagor
3. Full clarification of encumbrances or encumbrances in the property
4. Full clarification as to whether the property is free from any restrictions or encumbrances
5. A clear opinion that the property is free from Litigation or  injunction or seizer
6. Clear opinion of possession free from reasonable doubt of any law
7. A clear opinion that the mortgagor or vendee has peaceful and direct possession of the property
8. A clear declaration that no taxes or charges of any kind are due on the title search for property

How does this apply to buying a property? 

Stage-1	Stage-2	Stage-3	Stage-4
Firstly, we will join you as your legal expert on property buying	All property documents are provided by the buyer. And, even if the documents not available. Don’t worry about it. We will also provide a lawyer who will get your missing documents	Our attorney carefully examines all aspects of your property with the help of documents. And ensures that the property you intend to buy will be legally beneficial and in your interest.	You see, our team of property attorneys submits all the findings in a title report & fixes all queries on a call.

Reference

IRS (Internal revenue service)

Conclusion

Search the title for the property with you. After the above-detailed discussion on this topic let me ask you the question “Do you know that it is very important to know whether the title is clear and marketable before buying a house or office".

Sometimes people buy property by deed without giving a paper notice to save the cost of advertising in daily papers. Which thought and the decision can prove dangerous?  So, consider a paper notice and publish it as part of the property inspection. So that if there is any objection to returning the property, it can be disposed of in your favor.

Before buying a property, make sure that any court notice has been issued regarding the property. Is there an injunction on the property? It is imperative to get a solution to this question.

The security of borrowed money is an important and fundamental concern for any financial institution in any country. As well. Security for money lent to people is the security taken against the financial facility being lent. And. So if there is any defect or error in the security accepted then the question of safety and recovery of the borrowed money arises...

After buying a house or property, if you get a notice about a property, don't ignore it, As much as possible. And, find out immediately what kind of defects there are in the integrity of the purchased property and face them with the courage to remove them.

You see liked it in security. And primarily the title search verification for the property is clear and marketable and care should be taken regarding the possession and other legal verification before buying from a realtor or anyone else. Please note. You can need to find a lawyer near you.

Frequently Asked Question

What  happens when the IRS puts a lien on your house ? 

If the home loan couple remains unpaid for 3 consecutive months due to personal reasons. The IRS will issue a legal notice to them. And if the EMIs remain unpaid for more than 3 months, the banker will include such home loan in the category of NPA . Even then, if the home loan holder is unable to pay the EMI due to his personal reasons. Such NPA property is confiscated as per the federal rules. As much as. The foreclosed NPA property is auctioned and the IRS amount is recovered from it. And the remaining excess amount, if any obtained in auction, is returned to the home loan holder.

If a loan holder's property is sold through public auction, the loan holder's credit score and CIBIL score become weak due to which the loan holder may face difficulty in getting new loans in future.

When is the right time to check the legal title of the property?

Search and verify at least 30 years of revenue records of the title report for the property before purchase or mortgauge

What are the key benefits of a property legit title report

1. To purchase litigation free property
2. Get true ownership
3. Get peaceful and direct legal possession
4. Protect yourself from property scame
5.  To purchase previous tax liability free property
6. To purchase property with legit boundries

What is the cost of a title search report?

Generally, the value of a title search report depends on each situation of federal state. According to my law firm  it is charged in united states of America  from $ 1000 to $ 2500 dollars.

Which Document require to geting the title search report for property?

1. Village form of the property
2. Village form (Including all entries)
3. Tax assessment document of the property
4. Copy of Property holder
5. Zoning certificate
6. Site plan and permission
7. DILR Plan
8. NOC for no dues
9. NA permission
10. Permission of construction and building plan
11. Contract of construction
12. Form  of  Town develpoment deaprtment
13. Property tax receipt
14. Other relevant  documents

Are you passionate to read about: Home loan law Part II