Essentially, title in land laws refers to the ownership right to the property. The title, as ascertained by relevant deeds and documents, details the ownership of the property.
Property title is of utmost importance in any kind of real estate dealings, whether they be in the nature of sale, lease, sub-lease, licence or mortgage. A title grants its owner the sole right to use, rent, lease, mortgage, sell, transfer or gift the property and hence, it is vital that all individuals attempting to transact in real estate be first assured of its title. To facilitate this, a thorough search of every aspect of the property including but not limited to the rights, risks and interests is conducted by a professional. This search process is referred to as Investigation of Title.
Title investigations play a vital role in real estate transactions, especially before dealings of acquisition or ownership are carried out. In order to avoid a regrettable deal, the purchaser must ensure that the property is free from all liens, mortgages and any other encumbrances: both legal and financial. This includes investigating the ownership details, chain of title, dues and taxes cleared and pending, deeds, documentations, restrictions, nature of property, development and construction, associated litigation and liability and other such important elements. The investigation also includes a thorough scrutiny of the government records of land documentation for a period of upto 30 years. In order to ensure that the title is genuine, adequate due diligence must be conducted through seasoned legal experts.