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We are in the process of buying a house in NJ as an income property. It is not our first investment, so I am quite familiar with the process in New Jersey.
We are using an attorney to put the sale together (it is FSBO). He hired a title company to perform title search.
I just received their paper work and one thing astonished me: they did "High Court Search" which showed two individuals with judgments and bankruptcies. I have no idea how these people are connected to the property besides very similar last name (one letter difference).
It is estate sale, without any close relatives surviving. Sellers are nephews of the deceased, with different last name, and different addresses then people found in search.
It does not impact title in any way, but my question is if anybody in this region - NJ NY area is familiar with it?
I know it is public record, but what the hell? How it is even relevant? There are no liens on property.
I will talk to our attorney about it, but it is a small thing, not relevant.
But still first we are being charged for that search and on the whole, how can someone publish other people's record without any requests or need for that?
Other than that the search is very thorough.
Does anybody has an input? It is plain annoying.
Everything pulled in a title search is a matter of public record, so privacy is not a factor.
A title search will search not only for the property address, but the owners name and any similar variations. The title company will take the report and clear the irrelevant ones using a variety of methods. Sometimes, there are judgments they cannot clear and if they still do not belong to the owner/borrower, they will have to sign an affidavit stating that.
Everything pulled in a title search is a matter of public record, so privacy is not a factor.
A title search will search not only for the property address, but the owners name and any similar variations. The title company will take the report and clear the irrelevant ones using a variety of methods. Sometimes, there are judgments they cannot clear and if they still do not belong to the owner/borrower, they will have to sign an affidavit stating that.
Wow, learn something new everyday.
Yes, it is for title insurance and also to make sure title is clear.
You got everything, including the kitchen sink. My first NJ file had me running, calling everyone, trying to figure out what the 50+ pages meant. Just keep your eyes open for the title report insurance binder. If there is a specific problem, you will be advised.
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