Property abstracts are a legal chronicle or history of property ownership of particular piece of land. Advanced Abstract is a title company and they can help you with property abstracts in Allentown PA, Bethlehem PA, Easton PA, Reading PA or Stroudsburg PA.
When you buy real estate, you need to be sure the ownership that will be passed to you is clear of defects or issues that could impact your ownership and use of the land. It is there for a good idea to obtain the abstracts or history of ownership of the land.
You can approach a title company to obtain the abstracts of the property you want to buy. This process is known as a title search. A title search will determine among other the following:
- Whether the seller is the rightful owner of the property
- That the seller has free and clear title
- That no other person or entity has any claim to the land
- Whether there are servitudes or other entitlements against the property
- Whether there are any liens against the property
- Will determine if all the abstracts are good and property
- Determine the exact boundaries of the land
- That abstracts contain the correct legal descriptions
A title search is a complex and time-consuming project and is normally conducted by a trained professional known as an abstractor. An abstractor must refer to several sources to conduct a thorough title search and complete the acquisition of all the property abstracts.
You can further protect your interested and right by taking out title insurance. This is a once of payment for insurance that will compensate you for losses that arise from defects in title.
If you plan to purchase real estate in Allentown PA, Bethlehem PA, Easton PA, Reading PA or Stroudsburg PA., then Advanced Abstracts can help you with a title search as well as title insurance.