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Preliminary report VS. full chain of title

  • June 14, 2017
  • Posted by: admin
  • Categories: Full Chain Of Title, Preliminary Report VS. Full Chain Of Title Report, Preliminary Title Search
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Question:

Hi.  We are purchasing a neighbor’s property in a subdivision in Wimberley, Texas in which we already own a home.  We have been neighbors for 30 years.  The purchase price has been agreed upon, and there will be no mortgage.  We want to get some lien reports to be sure that everything is clear before we proceed.

I’m looking at the Preliminary Title Report and the Full Chain of Title Report.  I’m not really sure what I need, as I already know information about the neighborhood, sales prices for the area, etc., and really just need information about the specific property we are purchasing.

I have 3 questions:

1.  Does the Full Chain Title Report include everything that the Preliminary Title Report includes, plus some extra information?  If not, which is more thorough in regards to my needs (requiring less information about surrounding areas/neighborhoods/sales prices and more information about the specific property)?

2.  Is there a report of easements and restrictions in either the Preliminary Title Report or the Full Chain of Title Report?  I don’t see it listed in either column.

3.  If I get the Full Chain of Title Report, are we missing any reports that would commonly be required or especially helpful in my situation (no mortgage, neighbors for 30 years, etc.)?

Thank you in advance for your assistance!

 

Answer:

Donna, thank you for your inquiry.  Generally, a preliminary title report reflects ownership, liens/encumbrances and other exceptions to title.  That information is obtained from documents recorded on a given property address. Please note that all preliminary title reports, whether obtained through U.S. Title Records or another title company are for research purposes and do not come with title insurance.

The main difference between our full chain of title and our preliminary title report (complete records package) is that the records package includes the current vesting deed whereas the the full chain of title includes copies of all transfers with copies of source documents up to 30 years.  If you need to go back more than 30 years, please make that request using our contact form and you will be provided with a quote.
Easements and information related to restrictions will be included if they were recorded against that particular property address.  Certain easements (utility easements, for example) are sometimes found in the legal descriptions and other times found in the survey or plot map, depending on the county and the property.  In other cases, easements and/or restrictions are statutory or found in documents governing a given subdivision, i.e., Covenants, Conditions and Restrictions. Governing documents are indexed differently by the county recorder so they are retrieved separately using our Abstract Service.
If you already know about the neighborhood/subdivision and you are only interested in that specific property, then you may want to start your search with the Lien Report ($95).  You may also want to use the Abstract Service to request an easement search outside of what is listed in the legal description, if any.  Since you live next door, it sounds like you would already have a copy of any CC&Rs, if your neighborhood is within a homeowner’s association.
Please let us know if you need more information or have additional questions.
Thank you,
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