Title clearance certificate for property
TitleClearance.comis all about Title Search Report in India
TITLE CLEARANCE CERTIFICATE & TITLE SEARCH REPORTS
Are you thinking of buying property it’s important to findout who owns it and what liens exist. A Report of Title is highly recommended.You might not realize that there are actually liens that survive foreclosure. Acomprehensive Title Search Report from www.TitleClearance.com will uncoverhidden perils to a clear Title. We perform deep investigation of chain of Title Search that covers 30 year plus in depth HISTORY ofthe Title and its relevant details. All of this property-related information isretrieved within 30 year plus Title Search summary, as well as relevantdocuments copies that are captured. Title Clearance Certificate goes to thevery essence of having Title Searches performed. These are some questions whichstrikes our minds whenever we come across the term Title Clearance Certificateassures that Title fraud has not occurred and that the buyer is entitled toretain clear ownership of the property. Title clearance Certificate is of theutmost importance to all parties involved in the transaction. It assures allparties that the transfer of Title is cleared and that comprehensive duediligence has been performed throughout the Title process.
APART FROM TITLE SEARCHREPORTS AND TITLE CLEARANCE CERTIFICATES
we also offer additional paid services for,
Municipal Searches: Municipal Searches providesa comprehensive and detailed investigation to determine if there are any CodeViolations, Open/Expired Permits, Unrecorded Liens, Special Assessments, UnpaidWater/Sewer/Garbage Balances, Taxes, and Misc. Utilities associated with aproperty. Municipalities sometimes attach unrecorded liens to a property, whichis expensive and requires extensive corrections or repairs. This type ofinformation is usually not recommended for default/Real Estate Owned transactions.
Bankruptcy Searches: Bankruptcy is a legally declaredinability or impairment of ability of an individual or organization to pay itscreditors. A bankruptcy search confirms if an individual (including aliases andassociated parties) or company has been legally declared bankrupt by therelevant authorities of a country. This especially useful for companies who arehiring individuals in senior positions, financial roles or evaluating financialsoundness of potential business partners.
Foreclosure Searches: Searching foreclosures isan important part of the title discovery process. It can also revealinteresting purchasing and investment opportunities. Contrary to popularbelief, foreclosures don’t always match a “one size fits all” category. There aredifferent stages of foreclosure that are not always readily discovered:
Judicial foreclosure: It requires the lender togo through the court system to take back ownership of the property. The lenderwill have to initiate foreclosure by filing a lawsuit against the borrower. Allthe parties have to be notified of the foreclosure. A judicial decision isannounced (usually at a short hearing) after the exchange of pleadings.
Non-judicial foreclosure: here, if a power of sale clause ismentioned in the mortgage or if such a clause was used in a deed of trust, thenthe lender can use foreclosure by power of sale. There is no court supervision. In some caseslenders make adjustments to the borrower’s repayment schedule so that he/shecan afford the payments and thus retain ownership. This situation is known asspecial forbearance or mortgage modification.
Preforeclosure : In case of both judicialand non-judicial foreclosures, the foreclosing party must typically mail theother party stating that foreclosure proceedings will start upon non-payment ofthe loan amount. The notice generally provides 30 days to the borrower to paythe due amounts.
Defenses to foreclosure
The borrower can pursue certain defenses depending upon thesituation:
The foreclosing party can’t prove that it owns the debt.
The borrower is on active duty in the military and isentitled to protection from foreclosure under the Service members Civil ReliefAct (SCRA).
The foreclosing party did not follow the required procedureto foreclose.
It’s important to know exactly what stage of foreclosure theproperty is in and TitleClearance.com Company will provide comprehensiveinformation.
Financing statements are filed by mortgage companies, banks,and lenders against secured collateral. Our financial statement searches willoffer information on secured collateral, and the www.TitleClearance.com CompanyAll search will reveal if others have filed a claim against the existingcollateral.
Recording Services:
Our Document recording services offer the filing of realestate documents for recording purposes, a review of documents for originalsignatures, dates, notary acknowledgment, the document’s reference to realproperty, and the county requirements. In addition, https://www.titleclearance.com/about-uscompany provides a calculation and preparation of the relevant recording feechecks to the appropriate county or government agency, and mailing.
Follow ups also occurs with the local office or county afterthe document was sent for recording to ensure that both the recorded documentand final policy are returned in a promptly.
Notary Services:
Errors and omissions can occur due to the complexity of thetransaction and the related title process. As a result, it becomes important tohave all documents notarized. It at least assures that professionals havescrutinized the transaction documentation throughout the process.
Notaries, like other professionals such as lawyers,accountants, architects and doctors, have an exposure to liability for theservices they perform. In the case of Notaries, state statues uniformly affirmthat a Notary by an error or omission committed by the Notary.
Sale Deed/Title deed / Conveyance Deed/Loan Agreements/MOU
Description of Property Document: A sale deed acts as themain legal property document for evidencing sale and transfer of ownership ofproperty in favor of the buyer, from the seller. Further, it also acts as themain property document for further sale by the buyer as it establishes hisproof of ownership on the property.
Normally sale deed is executed after execution of saleagreement. Sale deed confirms that terms and conditions detailed in the saleagreement as agreed upon between the buyer and the seller are complied. It ismandatory to register the Sale Deed in Sub Registrar office in whosejurisdiction property is located. It is mandatory to register sale deed within4 months from the date of execution else you need to pay penalty or it standsinvalid.
RTC Extracts:
Description of Property Document: R.T.C is issued by theVillage Accountant. It contains details of the extent of land in a surveynumber or a sub-survey number, the extent of kharab land therein, the names ofthe present and previous owners, their respective holdings and names of thetenants. It also include details like the kind of soil/crop, any mortgages,charges made on the properties contained therein, the status of land (whetherInam land or not), the conversion order number, date in case any propertyconverted therein from agricultural to non-agricultural use, the references tomutation and inheritance certificates where there is any change in ownershipetc.
Closing and Settlement Services:
Real estate professionals often refer to the closing as the settlement,and the terms are used interchangeably.
The result is always the same. All of the parties to thetransaction will sign the documents and then you become legally obligatedwithin the terms of the transaction.
www.TitleClearance.com Company works closely with realestate advocates and other industry professionals, dedicated to the successfuloutcome of the transaction and its conclusion.
Visit for moreinformation: https://www.titleclearance.com/about-us
