Title services in Virginia
In Virginia, title services are a vital component of real estate transactions, ensuring clear and marketable ownership of property. These services, typically provided by title companies or attorneys, involve a comprehensive search of public records to identify any liens, encumbrances, judgments, or other title defects that could cloud the property's ownership. This thorough examination allows potential buyers and lenders to understand the full history of the property's title and to address any issues before closing. Furthermore, title services culminate in the issuance of a title insurance policy, protecting the buyer and lender against financial loss arising from unforeseen title defects that might surface after the sale. This protection provides crucial peace of mind and safeguards significant real estate investments within the Commonwealth.
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