Abstract & Title FAQ's
Will You Get a Clear Title? | How Do You Find Out What Claims Exist? | What About Undiscovered Claims? | How Does a Title Insurance Policy Protect Against All These Claims?
How Do You Find Out What Claims Exist?
In order to determine the status of title, Permian Basin Abstract Company conducts a diligent search of the public records for those documents associated with the property. Permian Basin Abstract Company then examines those recorded documents in order to determine if there are any rights or claims that may have an impact upon the title to the property. The title search may reveal the existence of recorded defects, liens or encumbrances upon the title such as unpaid taxes, unsatisfied mortgages, judgments and tax liens against the current or past owners, easements, restrictions and court actions. These recorded defects, liens and encumbrances are reported to you prior to your purchase of the property. Once reported, these matters can be accepted, resolved or extinguished prior to the closing of the transaction. In addition, you are protected against any loss or damage resulting from recorded defects, liens or encumbrances upon the title that are unreported to you and which are within the scope of coverage of the particular policy issued in the transaction. This is the first benefit you receive from title insurance.