Commercial O&E Report (Current Owner Search)

What is a Commercial O&E Report?

A commercial Owner and Encumbrance (O&E) Report produces the title of a property that is classified as commercial from the time that the current owner acquired it to the present time. Examples of commercial properties include farm land, garages, office buildings, hospitals, condominium buildings, hotels, malls, retail stores and warehouses. The easiest way to identify if the property is residential or commercial is by looking up the property address in the county’s assessment records and seeing how it is zoned. The title search process entails searching by various methods to retrieve property related documents which are filed in public land records. Open mortgages and liens associated with the owner and/or subject property, that were recorded after the current owner's acquisition of the property, will appear on the report. Judgments against the owner that fall within the state's statute are also reported. Additional state specific searches are also conducted such as:

• New York’s ECB and DOB Searches
• New Jersey’s Upper Court Judgment Search
• Pennsylvania’s Child Support and Prothonotary Searches
• Miami Dade, Florida’s Code Violation Search
• Maryland’s Department of Wills Search

Easements, Rights of Way, Leases, and CCRs which occur within the current ownership are provided. The report is delivered in PDF format and includes an easy-to-read summary sheet along with pertinent pages of all documents that were found during the scope of the search. Customization of the final report is also available. If preferred, information can be returned via API or spreadsheet.

Will the report include any mortgages or liens for prior owners?

No, the report will only include documents that were filed during the scope of the search. An upgrade to a State Statute Search would be required if a report of all possible open encumbrances is required.

Additional Questions & Answers:

How fast can a Commercial O&E Report be completed?

The standard turn time is generally within 72 business hours; however, ProTitleUSA understands that not everyone is able to wait that long. For those in need of a commercial property ownership and encumbrance report faster, we offer an expedited service for an additional $35. An expedited report will be delivered in four business hours after the order is placed. Once the search is complete, we’ll send you an email with a link to the report. Additionally, you can access the report on our website using your username and password.

What is the cost of a Commercial O&E Report?

The average cost of a commercial O&E report is roughly $250 but will range from as little as $175 to upwards of $450 depending on the location of the property. Additional fees are also required if tax certificates are needed in NY, MA, NJ and PA, as well as if the vesting deed was recorded more than 30 years ago. Bulk order discounts are available.

Who needs a Commercial O&E Report?

Typically investors and buyers at auctions are the most common parties who order commercial O&E reports. It is likely that the bid amount at an auction will not reflect the total lien amount due; rather, just the base amount. Interest piles up quick, so obtaining lien payoffs from an O&E report is critical. While the report does not provide title insurance, it is used to get an idea of the encumbrances on the prospective property.