Bahamas Luxury Real Estate & Homes for Sale

What is a Title Search and Why is it Performed?

9301 Emerald Bay, Exuma, Bahamas

 

In real estate, a property title search is an analysis done to confirm if there are any restrictions pertaining to the land being sold and if there are any other defects that may prohibit the sale of real estate on that specific ground. The title search also determines the property’s legal ownership, meaning in order for any real estate transactions to occur, a proper background check has to be done. These documents are usually of public record, therefore can be obtained by anyone interested in anything on that land. Those records include any events that may have occurred on the property in its history.

In order to start a property title search, you would need to visit the courthouse of where the land is located, unless you would want to access Bahamas Government records via its Registry of Records that are available to the public. There will be steps and requirements needed to obtain these documents successfully, which may become time-consuming. It is advisable to get a professional to pull together information, such as an abstractor, attorney, or title company who can assist you in the title search process for accurate results. 

A title search can reveal unexpected financial rulings against previous or current owners of the property such as unpaid property taxes, mortgagees, legal accesses, and other outstanding defects. It is important that the property you will be purchasing is free from the above, otherwise, you could face unpleasant financial difficulties in the future. 

Title searches are not limited to the financial part of it all. It also includes guidelines, restrictions, and regulations pertaining to the land. Breaching these covenants may be a serious offense, depending on how specific these rules are and if they still apply according to the developers of the land.

Commonly, a newer home will have fewer documents to go through as opposed to an older home. With a new property, the most you could get out of the title search is the actual history and activities of the land on which the property has been built. 

The best way to be comfortable and happy with the purchase of your home is to know every single detail that it comes with. The history, soil type, surrounding areas, and all other things you might have not thought about in-depth may be the important pieces to a large property puzzle. The more you know, the better it is moving forward with knowledge of what you are getting yourself into. 

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