After a title company has completed their title search into the history of the chain of title on the property in question, they will provide the buyer and the seller with a preliminary title report. In this article, we are going to talk about information that is included in a preliminary title report.
Information included in a Preliminary Title Report
A preliminary title report will consist of a large quantity of essential information. Here are a few of the most important items that will be included in a preliminary title report (note that this is by no means an exhaustive list):
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Information on any existing liens made against the property
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Information on property rights that have previously been sold (mineral rights, for example)
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Information on who has title to the property
The preliminary title report is provided to both the buyer and the seller prior to the closing of the property. The buyer and seller can then utilize this report to clear up any title issues before they close on the property.
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