Contact the attorney who represented you when you purchased the property to make a claim on your title insurance policy. If you don't have an owner's policy see if the attorney has errors and omissions insurance that will cover the error.
Property title search
A title search may also be required to fulfill the terms of a will in distributing property
Property-A title co. can do a title search. It's fairly routine.
An abstract of title is a summary of the history of ownership and any claims or liens on a property, while a title search is the process of examining public records to determine the legal ownership of a property and uncover any potential issues that may affect the title. Essentially, the abstract is a document summarizing the title search results.
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In Arkansas, the cost of a title search on real property typically ranges from $150 to $500, depending on factors such as the property's location, complexity, and the title company or attorney conducting the search. Additional fees may apply for more extensive searches or if the property has a complicated history. It's advisable to obtain quotes from multiple providers for a more accurate estimate.
Professional title examiners do not perform their services for free.
To determine the owner of the property, the liens on the property and the judgments against the owners that may attach to the property. It is done to assure the buyer and/or the lender that the title is clear and marketable.
The wording in the deed is no different just because the buyer did not want to pay for a title search and title insurance. The responsibility is with the buyer to know what he/she is getting when he buys the property. You can sue after the fact, but good luck if you don't take responsibility to have the property checked out.
A title commitment is a document issued by a title insurance company that outlines the terms under which they will provide title insurance for a property, including any exceptions or conditions that may apply. In contrast, a title search is the process of examining public records to verify the legal ownership of a property and to identify any liens, encumbrances, or other issues that could affect the title. Essentially, the title search is a preliminary step that informs the title commitment.
The title insurance company is liable for the legal description that was insured at market value/amount of your policy