A title report—also known as a title commitment or binder—is a document that contains the results of a title search and describes the legal status of a piece of real property (estate). A title report usually includes a legal description of the property and information on ownership of the property (the chain of title or ownership history).
A title report also includes a list of any easements, liens, encumbrances, and other information affecting title to the property as of that date—which are known as title defects or defects.
A title report will also include relevant zoning laws, the appraised value of the property, current tax information, and any open or unreleased mortgages.
A person considering buying a piece of property may be able to find this information in the local county records (county tax assessor’s office, courthouse) but most experts recommend a potential buyer enlist the services of a title officer at a title company.
