Importance of chain of title
The passing of title from the first owner to the present owner without any encumbrances is of utmost importance in Sale/Lease/Mortgage/Gift transactions. This process, often referred to as the chain of title, ensures that the current owner has a valid and clear ownership right to the property, unencumbered by any claims, liens, or other burdens. The chain of title refers to the chronological sequence of transfers of ownership rights from one party to another, starting with the original owner or grantor. It is typically established through a series of recorded documents, such as deeds, contracts, and court orders. Each document in the chain serves as evidence of the transfer of ownership and provides a link between the previous and current owners. A clear chain of title is crucial for several reasons. First and foremost, it provides certainty and security to the present owner. It assures them that they hold a legitimate and undisputed claim to the property. Without a clear cha...