Course: LAW203 _Real Property Law

Text: Essentials of Basic Real Estate Law, 6th Ed, Hinkel

Chapter 9, Title Examination (or Title Search)

Week 9 Project

In short, a title examination (or title search) is a process by which the property is deemed suitable for sale. A thorough review of the chain of title will identify issues or ensure the seller has a marketable title to sell. Once the property is under contract for sale, a title insurance company or agent will search public records for competing claims of ownership, debts associated with the property, or other issues that would cloud the title and put the buyer at risk.

In a title search, a title examiner, who usually works for the title insurance or escrow company, will scour public records for any defects in the real property's chain of title. The title examiner will examine the title as early as possible in a real estate transaction and will also perform a second examination immediately before closing. Public records consist of a chain of title information, mortgages, judgments, tax liens, mechanic's liens, ongoing suits involving the property, and probate records. Properly-executed title searches differ from state to state by jurisdiction.

In preparation for this week's Discussion and Writing Assignment No. 1 do the following:

1. Research the laws of California and Nevada to determine how many years a recorded judgment is valid.
2. Research the laws of California and Nevada as to a bona fide purchaser for value rule.

Assignment Due: Sunday 10/23/2022 @ 10:00 pm

Discussion Questions based on research from the Week 9 Project:

1. Do you think that your state's bona fide purchaser of value rule is similar to or different than the one discussed in the chapter?

2. Provide citations to your research (supporting cases or statutes) to support your viewpoint.