...what I saw was a "property report" issued by a company that obviously charges for its services. At first appearance, it looked to be an extended tax information report. All the data was there - legal description, previous owner's name, books/pages of conveyance deed (albeit the wrong book number) and open liens at the time of the search (again wrong book number on one). There was no disclosure about the type of deed used to convey - could have been anything from a Beneficiary Deed to a Special Warranty Deed. No status of the current owner. Even as a one owner search - it was erroneous. Yep - it showed a Foreclosure Deed; but it neglected to show a Sewer Lien that was not wiped out by the Foreclosure - and a Deed of Trust open prior to the foreclosure.
....all this time when people referred to "online title plants" I was offended because I thought they meant the ones like Doug Gallant and I use. They are full, legal description plants that have been in existence prior to internet service that are now available online for us subscribers. Now I know what a thin title plant is - and no wonder everyone takes offense. They are inaccurate, probably cheaper than dirt, and where on earth do they get this info? ...this is what accompanied an order to be brought forward...I assume they actually make loans and insure titles based on this information. First of all, any payoffs would have been erroneous because not all of the recording info was correct; additional liens/clouds exist on the title, even a credit report "run" would not have divulged the previous loan that was open.
...goes to show you - even an old dog like me can learn something -
Ellen
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