What is typically found in a title report?

A title report serves as a comprehensive document that summarizes the legal status of a property, and it plays a crucial role in the title insurance process. It typically contains important information such as any existing liens, encumbrances, and property history. This includes details on mortgages, easements, and other claims against the property that could affect ownership or use.

Liens represent financial claims against a property, which could potentially encumber its sale if not resolved. Encumbrances might include easements that grant others the right to use a portion of the property, as well as restrictions or covenants that affect how the property can be used. The property history often provides insight into past ownership, which is critical for confirming the chain of title and establishing clear ownership rights.

While previous homeowners' names and renovation history may be included in various documents related to the property, they are not typically the main focus of a title report. Additionally, assessments of current market value usually fall under the realm of appraisal reports rather than title reports. Thus, recognizing the function of a title report is essential for understanding what key details it provides to interested parties in real estate transactions.