The Importance of Name Searches
Name Searches are a vital part of theproperty transaction process, ensuring that there are no hidden liabilities orencumbrances associated with a property owner’s name. These searches helpidentify any outstanding judgments, liens, or other legal issues that couldaffect the ownership or transfer of the property. Key aspects covered by a namesearch include:
● Judgments: Identifying any legal judgmentsagainst the property owner is crucial. These judgments can become liens againstthe property, potentially complicating the transfer process.
● Liens: A Name Search reveals any liens filedagainst the property owner. These liens must be addressed and resolved beforethe property can be sold or transferred, ensuring clear ownership.
● Bankruptcy Records: Checking for bankruptcyrecords is important as it can affect the owner’s ability to sell the property.Understanding any bankruptcy implications helps in planning a smoothtransaction.
● Criminal Records: In some cases, criminalrecords may impact property transactions. A comprehensive Name Search ensuresthat all potential issues are uncovered and addressed beforehand.