In the mortgage world Title Search is one of the proven process which is used to check the ownership of the property as well as check the any dispute against the property. Title search is commonly known as the property search because it is the search process conducting on a property to get the right title of the property.
Title search is used to get the clear picture of the property. The person who check the property is called Title Searcher. In the USA, Title Search is very important process to buy or sell the property.
In USA, before purchasing any property the buyer of a property generally buy title insurance through Title Insurance Companies. This Title Insurance defends the buyer from any title problems that may occurs after purchase the property. Title Search also useful in the case of mortgage where bank requires the clear title of the property before giving the loan against the property.
Terminology of Title Search
Basically Title search is conduct against the property to clear the tile of the property.
* Determine the ownership of the property by checking current and previous owners of the property.
* Determine any outstanding lien against the property like mechanic lien, mortgages, taxes etc.
* Check for any title deficiencies against the property like easements, real covenants etc.
Benefits of Title Search
Basically Title Search is required by the below given area –
* Law Firm
* Insurance companies
* Investors or buyers
* Financial Institute
* Loan companies
* Real Estate agent
Since the early days of human evolution, Finance is consider backbone of the Business. It’s remain one of the most common and important element in the modern business world. In simple term Finance is the management of money for our financial needs. It’s also called the science of funds management.
Saving money and borrowing money is the base of the finance. Finance is one of the most important aspects of business management. Without proper financial planning a business is unlikely to be successful. Financial management is important to ensure a secure future, both for the individual and an organization.
Finance is also known as a money budget management. The management of finance deals with how money is spent and budgeted. It also deals the concepts of time, money and risk and how they are interrelated.
Types of Finance
We can easily categorized Finance in mainly three types –
* Business Finance
In this category finance management main task is to provide the funds for business activities.
* Personal Finance
This type of finance required for personal needs like education fees, financing durable goods such as real estate and cars, buying insurance, e.g. health and property insurance, investing and saving for retirement. Personal financial decisions may also involve paying for a loan, or debt obligations.
* Public Finance
This type of finance worked between countries and states.
How Finance worked
In here you can see how finance is worked. A bank accepts deposits from lenders, on which it pays the interest. The bank then lends these deposits to borrowers. Banks allow borrowers and lenders, of different sizes, to coordinate their activity. Banks are thus compensates of money flows in space.