What is an Abstract of Title?
- Liens. Any monies borrowed against the property, a second mortgage, and repair liens should be listed if applicable.
- Tax liens. Tax liens could be on the property if there is property tax debt from the previous owners. This lien takes priority over all others, and if they remain unpaid, you could lose your property.
- HOA (Homeowners Association) liens. A lien can be put against your property if HOA dues are unpaid, if applicable. Additionally, consult with your HOA to find out what you can or can’t do with your property (i.e. add a garage or storage shed).
- Easements. This area of land, usually a certain number of feet on your property line, is designated for installation and repair of utilities. The easement gives the utilities access to perform their work when needed.
- Deeds. The recorded history of the ownership of the land.
- Court Proceedings. Any court matters filed against the record owners and/or the property.