What is a title search and why do I need one?
Written and reviewed by Andrew Ragusa, Licensed Real Estate Broker and Broker of Record, REMI Realty LLC — 11+ years of transactions across Long Island, Brooklyn and Queens.
The short answer
A title search is a detailed review of the property's history and public records to verify ownership and check for liens, judgments, violations, unpaid debts, easements, or other claims that could affect the transfer of the property. The point is to identify anything that needs to be dealt with before the buyer takes title. If there is an old mortgage that was never properly satisfied, a judgment against the owner, or someone else who may have a legal interest in the property, the title search is designed to bring that issue to light before closing.
A title search and title insurance are related, but they are not the same thing. The title search is the investigation. Title insurance is the protection against covered title problems or claims. In a financed purchase, the buyer's lender will ordinarily require a lender's title insurance policy to protect the lender's interest in the property. A buyer can also purchase an owner's title insurance policy to protect their own interest in the property.