Title Report in Park City Utah

A title search is a process that is performed primarily to determine the answer to three questions:

•  Does the seller have a saleable interest in the property?
•  What kind of restrictions or allowances pertain to the use of the land?
     (real covenants, easements, or other servitudes)
•  Do any liens exist on the property which need to be paid off at closing?
     (mortgages, back taxes, mechanic's liens, or other assessments)

In Park City sales transactions, the seller of a property is usually required to purchase title insurance to protect the buyer, which protects the buyer from any title problems that may arise after sale (such as liens that were missed during the title search). The title insurance company issues a title report and then issues an insurance policy in support of the reports findings. Preliminary title searches are most often carried out once a property is listed for sale with a Park City Realtor.  When a buyer and seller come to an agreement on the terms of a sale, a Title Report is almost always given to the Buyer as part of the Seller's Property Disclosure Items.  This is the buyers opportunity to learn the condition of title for the property.  The buyer shoud be looking for any "clouds" on the title.

A title search is also performed when an owner of real property wishes to mortgage (or refinance) his property and the bank requires for the owner to insure their transaction.  In a property sale, the seller provides title insurance to protect the buyer, and the buyer will also be required by the lender to purchase additional title insurance to cover the lender, a Lenders Policy.

Anyone may do a title search and documents concerning conveyances of land are a matter of public record. However, it is often the case that people choose to contact a title company or attorney to conduct an exhaustive title search. For example, a title report may also show any easements, or recorded legal rights to the property or portions of the property. A previous owner may have legally given a neighbor the right to share the driveway, or the city may have a right to strips of the property for putting power lines, communication lines, water pipes, or sewer pipes. A few on-line services offer title searches for relatively little cost, and their accuracy is not inferior to what a title company or attorney will offer; however on-line businesses rely mostly on electronically available information, and for that reason could at times be limited.

For more specific information regarding Title Reports and Title Insurance, we recommend contacting the following Companies located here in Park City:

Coalition Title
Craig Rodman
Escrow Officer
(435) 649-4008
2200 Park Avenue, Bldg. C-100 
Park City, Utah 84060

Highland Title
Danette “Dani” Loehr
Branch Manager / Escrow Officer
(800) 522-1071 
875 Iron Horse Drive 
Park City, Utah 84060

If any of the following items appear on your Preliminary Report, they will require immediate attention. A delay in closing may result without immediate attention. Please see reverse side for definitions and actions needed to be taken.

1. Mechanic’s Lien: A statutory lien in favor of persons contributing labor, material, supplies, etc. to a work of improvement upon real property. A release must be recorded to be removed.

2. Notice of Action: A lis pendens. A proceeding in a court of justice by which one party prosecuted another for the enforcement or protection of a right.

3. Bankruptcy: A proceeding in the U.S. Bankruptcy Court wherein assets of a debtor (unable or unwilling to pay debts) are applied by an officer of the court in satisfaction of a creditor’s claim.

4. Uninsured Deed: A deed that has been recorded that it is believed to not have been checked as to its validity. Additional information may be needed before passing title. Call your title officer to see what might be needed in each case.

5. Access: A landowner’s right to have ingress to and egress from the property to a public street. This property does not have legal access.

Preliminary Title Report Terms:

Estates: The word “estate” is used to express the degree, a fee quanity, nature, duration, or extent of an interest in land. A “Fee or Fee Simple” is the highest type of estate or interest an owner can have in land, freely transferable, inheritable and whose owner is entitled to possession. (There are a number of other estates or interests in land that we can insure.)

Vesting: It is the ownership or title to an estate.

Legal Description: The description of the land covered by the preliminary report.

Exceptions: Matters which are expected from the property conveyed, such as oil and gas rights, or easements for specified purposes.

Taxes: The amount and status of past unpaid real estate taxes, if any, and current year’s taxes, paid or unpaid, or taxes which are a lien but not yet payable.

Bonds: Bonds or assessments, if any, levied at the inception of construction of improvements such as streets, gutters, sidewalks, etc.

CC&Rs: Covenants, conditions and restrictions are limitations sometimes put on the use and enjoyment of real property, such as limiting the property to a single family or to a one-story dwelling.

Easements: An easement is a right of use in favor of others in the land for specific purposes such as public utilities, roads, or ingress and egress.

Deed of Trust: A deed of trust conveys title to particular land to a neutral third party (trustee) with limited powers (such as power of sale) for the purpose of securing a loan (debt).

Assignment: An assignment of the beneficial interest under the deed of trust from one beneficiary to another.

Trustor: The borrower, owner and grantor of the property conveyed in a deed of trust.

Beneficiary: The lender on a deed of trust is referred to as the beneficiary.

Trustee: Is a neutral third party in the deed of trust with limited powers. When the loan is paid in full the property is reconveyed by the trustee back to the person or persons legally entitled to the land, or, if delinquent, the property will be conveyed pursuant to non-judicial foreclosure proceedings, to the highest bidder in a public sale.

Abstract of Judgment: Imposes alien on all real property owned or subsequently acquired by the debtor until satisfaction or expiration of the lien.

Statement of Information: This information statement is confidential and is used to enable the title company to eliminate title problems which may arise through similarity of the name of Seller or Buyer with the name of another person against whom there may be judgments, tax liens, or other matters affecting property ownership.

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