Current Owner Searches
Search run from the original deed into the current owner to date. Will reflect the ownership status of a property and what current liens said property is subject to.
What is a Current Owner Search?
A current owner property search, also known by such varied terms as Owners & Encumbrance Search (O&E), Attorney’s Search, Last Owner Search, or Refinance Search, is a type of search conducted to find out who currently owns a specific piece of property. It goes beyond just the name listed on tax records, providing more detailed information about ownership history and potential encumbrances.
Here’s what it typically reveals:
- Current Owner(s): The search confirms the legal name(s) and contact information (if available) of the individual(s) currently holding the title to the property.
- Ownership History: It provides a record of past owners, including the dates and details of ownership transfers. This can be helpful for various purposes, like tracing ownership history for legal reasons or understanding past renovations or additions made to the property.
- Encumbrances: The search reveals any outstanding liens, judgments, or other claims against the property. This could include mortgages, back taxes, or unpaid HOA fees. Knowing about these encumbrances is crucial before purchasing or investing in the property.
- Deed Information: Sometimes, the search may even include copies of the most recent deeds transferring ownership of the property. This can be valuable for understanding the specific terms and conditions of the current ownership.
Who uses current owner property searches?
This type of search is often used by various individuals and entities for different reasons:
- Potential buyers: Before purchasing a property, it’s crucial to verify the ownership details and identify any potential encumbrances.
- Investors: Real estate investors often use these searches to research potential investment opportunities and understand the ownership history of a property.
- Lawyers: Attorneys may utilize the search for legal purposes, such as tracing ownership in inheritance cases or conducting due diligence for clients.
- Lenders: Mortgage lenders may perform this search to confirm the ownership and ensure there are no outstanding liens before issuing a loan.