Title researchers, will retrieve the records on a property, such as transfers, liens, judgements, and other recorded data. The results are compiled into a report, called a title search. This report can be used to understand the status of the property, such as if there are liens against the property, or ownership status. Many homeowners are now checking their own homes title status on a regular basis, to make sure no liens are attaching to the property. Leins are the most important part of a title search. The title researchers will run a lien search for the property, and list all liens recorded against the current owner of the property. This includes both mortgage liens, and all non-voluntary liens such as tax liens, contractor liens, etc.
Reference Link: http://titlecompanies.net/
Title Insurance is insurance that cover any errors or mistakes or fraud with the title of the property. Your lender will require enough title insurance to cover the amount they have loaned you. You can buy the optional coverage to protect your amount you put into the property as down payment.
Your buyers agent OR title company should be discussing all the terms and questions you have
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