What information is typically included in a title report?

A title report serves a crucial role in real estate transactions by providing a comprehensive overview of essential information regarding a property. The correct choice stands out because it encapsulates the three fundamental components that a title report usually covers.

First, the property description offers specific details, such as the boundaries, location, and physical attributes of the land or property in question. This information is vital for determining exactly what is being bought or sold.

Second, ownership history tracks the chain of title, allowing interested parties to see who has owned the property in the past and to confirm that the current seller has the legal right to sell it. This historical context is crucial for establishing ownership legitimacy and ensuring there are no disputes regarding title.

Finally, the inclusion of existing liens is significant because liens can affect the property's status and the buyer's rights. A lien represents a legal claim against the property, often due to unpaid debts, which can impact ownership and transferability.

This blend of property description, ownership history, and existing liens provides a holistic view of the property's legal standing, making the populated information vital for buyers and lenders to assess potential risks and confirm clear ownership before proceeding with a transaction.