Before you go into a closing, it’s critical to know that your title to the property will be free and clear. That means it is free of prior indebtedness or other defects or encumbrances. It is then what is called a “marketable title”.
Normally, at the closing the seller gives the buyer a deed, which transfers the title to you and warrants your title against claims of other persons. However, you should not accept a deed without having World Title Company conduct a thorough title examination of the property.
A title examination involves researching the public records to disclose the previous owners of record, prior deeds, mortgages, court judgments, probate proceedings and divorces, foreclosures, tax and construction liens, and other matters which could affect title. In other words, the legal history of the property.