The Importance of Title Reports
One of the keys to a successful Right-of-Way project is having a clear picture of all the properties impacted by the project.
The first step in this process consists of developing a landlist identifying all the parcels potentially impacted by the project. Using this list, the team will then begin the process of securing land title reports, a critical step in the overall success of the project.
A title report is a document that outlines the legal status of a property and related information on its ownership. The report will provide the full legal description of the property, chain of ownership, judgements, liens, mortgages, and any other interest in the property.
This is important when securing an easement, as all interested parties must be informed of the transaction. The project team will also use the report to ensure that anyone with ownership interest is named on and executes the document.
The survey team will also use the title reports to map out and verify there are no conflicts with existing easements, land rights, or other encumbrances. They will also identify any gaps in ownership that may require additional research.
Regardless of the type of Right-of-Way acquisition project you are working on, having complete and accurate title research is critical to project success and avoiding costly project delays.
For more information on the Steigerwaldt Real Estate Team and the turn-key services we can provide please visit our website at www.steigerwaldt.com.
