I have a client who was initially asking us for current owner searches on properties that are going into foreclosure. Then a week later they asked us to include a 20 year back chain, which concerned me, so for liability purposes, clearly wrote on our reports that we were providing a "Current Owner search with a 20 year back chain". Now they are saying they want all judgments on the current owner back 2o years even if this is before they took title to the property being searched. I am confused and wonder if anyone familiar with Foreclosure searches knows what these clients are REALLY asking for? And what should we be calling these searches now?
Are they requesting 20 year property searches, in which case, we believe we should be searching all owners for the past 20 years for unsatisfied mortgages or judgments against the property?
Or are they requesting Current owner searches with an extended judgment/lien search against the current owner for the past 20 years?
I realize these may seem like a stupid questions, but all searches seem to come over as "current owner searches" these days when they really want more! I also have this question into my client, but want to throw it out here for some insights from all of you.
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