Closings glossary
Title search
The records examination behind a title report, covering the chain of title, encumbrances and court filings against the owners. It precedes the commitment.
What does a title search cover in New York?
Quick Answer
The full definition
The records examination behind a title report, covering the chain of title, encumbrances and court filings against the owners. It precedes the commitment.
Which related terms should you know?
These are the terms that come up alongside title search in the same file.
- Title commitment
- The document offering to insure title on stated terms, with Schedule A facts and Schedule B requirements and exceptions. It is the working agenda between contract and closing.
- Chain of title
- The sequence of recorded conveyances of a property, from an earlier known owner to the present one. Gaps and defective links in the chain are what a title search is designed to find.
- Abstract of title
- A summarized history of a property's recorded ownership and encumbrances, compiled from the public record. It is the raw material a title examiner reads before any policy is written.
- Judgment lien
- A lien created by docketing a money judgment against the owner. It reaches real property in the county of docketing and is a routine payoff item at a closing.
- Municipal search
- The record search covering agency violations, municipal arrears and occupancy documents for a property. It runs alongside the land records search rather than inside it.
Where does title search come up in a New York City closing?
A Brooklyn search turns up a 1978 estate that was never fully probated, and the file needs several extra weeks for the missing paperwork.
What else should you read before closing?
Questions this raises
- How long does a title search take?Three to five business days for a clean NYC house or condo, longer for co-ops, estates and multi-parcel files. What slows a New York title search d...
- What is the difference between a title search and a title commitment?The search is raw discovery. The commitment is the insurer's offer, split into Schedule A, B-I requirements and B-II exceptions. How to read both i...
- What happens if the title search finds a problem before closing?Schedule B-I requirements are the punch list, not a dead deal. How New York closings clear old liens, missing satisfactions and name hits before th...
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