The real estate title is the actual document that indicates the legal owner or owners of the property. In most situations the legal owner will work through a title company or real estate broker to transfer the title to the new owners when the property is sold.
It is possible for liens, holds or encumbrances to be placed on a real estate title. These are actually past due amounts that the pervious owner has not paid for services or items within the property that cannot be repossessed. Usually all of these liens must be cleared before the real estate title will be released.
The real estate title will be specific to the property that has been purchased and should include the legal land description and reference to a current survey completed by a professional land surveyor. The cost of the survey may be split between the parties or may be paid for by the buyer or seller on their own.
