We offer many services for title search here at Whitney Title, including Abstracting Services, Coverage, and others.
Abstracting Services
Legal and Vesting Deed/LOV Report
A Vesting & Legal Search Report is a basic property report that we can provide to you when only the following information is necessary:
- A copy of the property’s most recent deed
- A typed report that includes a full legal description of the property
To ensure the correct deed and legal description are obtained, we would require the grantee’s name(s), the complete address of the property and the county in which the property is located. We will work off of the most recent deed whether it is a warranty or quit claim deed. If out of family deed is required we offer additional options for that type of search.
A deed is defined as “A written instrument, which has been signed and delivered, by which one individual, the grantor, conveys title to real property to another individual, the grantee; a conveyance of land…”
“Land can only be transferred from one individual to another in the legally prescribed manner. Historically speaking, a written deed is the instrument used to convey ownership of real property.”
Owner and Encumbrance Report
Owner and encumbrance reports are simplified non-insurance title reports designed for informational purposes only. Also known as a property report, this report is a limited search of public records. It does not provide any insurance. However, the title search does provide valuable information concerning the property such as the property’s most recent owner, taxes owed on the property, outstanding deed of trust, and possible liens.
An owner and encumbrance report is not sufficient for title insurance coverage. However, it is a helpful tool that can be provided by your title insurance company; it is often used by buyers at estate auctions to be aware of any current issues or title matters.
Current Owner Search
If you need to check all liens, mortgages, judgments on the property from last property purchase to current date – Current Owner search is what you need. Current Owner Title Search is ideal for foreclosure auctions, pre-tax auctions, short sales, by-owner transactions, refinance, checking for clear title. You will receive a Title Report on all outstanding mortgages, liens and judgments recorded against the property and current owner(s).
- Current owner search involves searching for the details of the present title holder of the subject property and the latest deed with consideration.
- Search done by searching from the current date backward.
- Details like Vesting Deed, Current Tax status, county assessment information, open mortgages, judgments, liens, and legal description will be captured.
- This search is usually done for the origination of Home Equity transactions, short sale, foreclosure auctions, and pre-tax auctions.
Two Owner Search
A Two Owner Search is a search that provides the current vesting deed and all deeds leading back to the deed prior to the out-of-family deed. It also includes copies of any open mortgages and assignments against any owners found, any judgments against those owners, and also tax assessment and current tax information including any delinquencies.
With our services, you get the complete picture of the property that you are prepared to invest in with 100% accuracy and data security.
Our Typical Two Owner Search Report Includes the Below Information:
- Documenting chain of title going back two full value deeds
- All open mortgages and Deed of Trust
- Liens on the property affidavits, notices, etc.
- Tax information
- Fully typed report of every document on record as well as legal description
- Maps
Partner with us to utilize preliminary title report checks for all liens, mortgages, judgments, and tax status for both the current holder and previous holder of the property.
Chain of Title Search
Trace your property’s ownership back to 1940 with a Chain of Title Search.
A Chain of Title Search includes the following:
- Copy of the current vesting instrument
- A list of ownership transfers with dates and recorded instrument numbers back to 1940
- A summary report showing the parcel number(s) and brief legal description(s)
A Chain of Title Search is a valuable tool in determining past owners of a property, and helping to identify if past property uses raise red-flags of environmental concern. EDR’s Chain of Title is an accepted standard historical source under ASTM E1527-13.
10-20-30 Year Search
We can search 10, 20 or even 30 years back on your target property anywhere in the US and provide the data that you need in an easy to read and use typed report.
Property Search – What It Includes:
- Chain of title going back to the specified time requirement
- All open liens – voluntary & involuntary including related documents
- Up to date tax information
- Fully typed report of every document on record as well as legal description
Purchase Money Mortgage Search
A purchase-money mortgage is a mortgage issued to the borrower by the seller of a home as part of the purchase transaction. Also known as a seller or owner financing, this is usually done in situations where the buyer cannot qualify for a mortgage through traditional lending channels. A purchase-money mortgage can be used in situations where the buyer is assuming the seller’s mortgage, and the difference between the balance on the assumed mortgage and the sales price of the property is made up of seller financing.
Full Search
For a real estate sale you will want a “full search”, which is a 60 year chain of title search, or if you have title insurance currently a “Re-Issue search”, (which is from the current policy effective date to present). This searching method would apply for all types of real estate sales: residential, commercial or vacant land. You can place a title order for a real estate sale directly via our website.
Closing Update
You will be notified when the business deal is closed.
Document Retrieval Services
We provide back-office support for lenders with title policy and mortgage document retrieval process. From title policy retrieval to the finalization of post-closing requirements, we compile a complete portfolio of all the required documents in a mortgage transaction. As a title policy and document retrieval services company, we recover certified copies of the final title policy in a time-bound and accurate manner.
Coverage
We offers a full array of title, abstracting, and tax products and services for all 50 States.
Our Abstracting services includes the following excellent features and benefits:
- Highest Quality search reports
- Unbeatable turn-around-time (4-8 hours)
- Lowest Cost
- 24/7 Email and voice support
Services
Mortgage and Title Services
The title company is a third party that works on behalf of both the lender and the buyer. You hire them to research and insure the title of the home you’re buying.
Why is that important? Let’s say you buy a home without hiring a title company. Later on, you find out the seller inherited the home when his father died and actually only owns half of the home. The other half belongs to his brother, who turns up on your doorstep wanting his 50% of the property. You can imagine what an unpleasant situation that would be for everyone.
A search from a title company would have revealed the second owner and stopped the sale before you close on the mortgage. They also look for existing liens, so you won’t find out the hard way a contractor never received payment for past work completed on the home and is now expecting payment from you, the new owner.
Property Searches
You can lookup your assessed value, property taxes, and parcel map.
Mortgage Processing
We prepare your mortgage application file and other paperwork for delivery to the mortgage underwriter. We gather documents to check all the information on your loan application, including pay stubs, W-2 forms, bank statements and credit report explanations.
We work with your loan officer to make sure your financial profile fits the lending guidelines for the loan program you’ve selected. Note that we don’t have a license to provide you with any advice on the best loan program, interest rates or closing costs — only your loan officer can legally answer those types of questions.
More importantly, we organize your paperwork in the format required for each loan product, so the underwriter can quickly locate the information to provide a loan approval decision.
Title Commitment
A title commitment is the document by which a title insurer discloses to all parties connected with a particular real estate transaction all the liens, defects, and burdens and obligations that affect the subject property. It lists all requirements that must be met before a title company can insure a title as “marketable” or a loan as having a certain priority.
Data Capturing
Data capture, or electronic data capture, is the process of extracting information from a document and converting it into data readable by a computer. More generally, data capturing can also refer to collecting relevant information whether sourced from paper or electronic documents.
Online Filing
E-file is a system for submitting tax documents to the US Internal Revenue Service through the Internet or direct connection, usually without the need to submit any paper documents. Tax preparation software with e-filing capabilities includes stand-alone programs or websites
Web-based Solutions
We’ve built websites and custom applications for customers of all sizes. We know the key to launching successful web based solutions which is listening. We’re confident that we can build a solution for any problem that you are trying to solve. Most likely, we’ve already built a similar solution because of the requests we’ve heard from customers. That’s why we have off the shelf solutions available.
Property Assessment & Taxes
A property tax assessment is a professional estimation of the market value of residential or commercial real estate. Local governments use your assessment as the basis for calculating your annual property tax bill. Assessments are usually prepared on a specific date each year, and they’re often based on recent sales of comparable properties in the area.
Property taxes are often the most significant source of revenue for governments. They pay for schools, parks and recreation, government employees’ salaries and benefits, transportation infrastructures, local law enforcement, and fire departments. Some buildings and land are exempt when they’re used for religious purposes.
Property Appraisal ordering
A home appraisal is an unbiased estimate of the true (or fair market) value of what a home is worth. All lenders order an appraisal during the mortgage loan process so that there is an objective way to assess the home’s market value and ensure that the amount of money requested by the borrower is appropriate.
Judgments Search
Federal case files are maintained electronically. We will search and locate appellate, district, and bankruptcy court case and docket information.
Abstracting Services
An abstracting service is a service that provides abstracts of publications, often on a subject or group of related subjects, usually on a subscription basis. An indexing service is a service that assigns descriptors and other kinds of access points to documents.