Property Title Searches in Louisiana (LA)
With nearly 4.6 million residents, Louisiana is the 25th largest state by population. It stands as a captivating blend of rich history, vibrant culture, and notable economic prowess. Its beating heart, New Orleans, pulses with the rhythmic melodies of jazz and blues, drawing in visitors from around the globe to revel in its festivals and distinctive culinary offerings. The state's economic landscape is equally dynamic, with a significant focus on energy production. Louisiana ranks among the top states in natural gas and crude oil production, contributing substantially to the nation's energy sector. Its strategic location along the Mississippi River facilitates a thriving shipping industry, fostering commerce and trade. Louisiana's economic narrative intertwines with its cultural heritage, creating a tapestry that embraces tradition while forging ahead with innovation and economic vitality.
Understanding Property Titles in Louisiana
A property title search is an examination of public records to determine the history of ownership and any existing claims or liens on a property. It involves looking into documents such as deeds, mortgages, court records, foreclosure cases, and tax records to verify the current owner, identify any existing encumbrances (like mortgages, easements, or property taxes), and ensure the seller has the legal right to transfer ownership.
The Importance of a Title Search: Risk Factors and Probable Consequences
A title search is crucial when purchasing real estate to ensure that the property being bought has a clear title without any hidden issues that could affect ownership rights or create liabilities for the new owner. It helps to reveal any outstanding debts or legal obligations associated with the property. Working with experienced title professionals and conducting thorough title searches helps identify and address these issues before completing a real estate transaction, ensuring a smoother transfer of the property and minimizing potential legal complications for the new owner.
Current Owner Search in the State of Louisiana
ProTitleUSA’s O&E report provides the property’s tax status and assessment details for all jurisdictions that the property owner is liable to pay. Should there be delinquent taxes, the report will include the amount presently due including interest. An out-of-family, full value transfer deed into the current owner is provided. All mortgages taken out by the current owner are reviewed, and any that are open are reported. Documents associated with the open mortgage are included, as well. This would include document types such as modifications, assignments, foreclosure actions, etc. Judgments and liens against the property and the current owner are provided.
Two Owner Search in the State of Louisiana
ProTitleUSA’s Two Owner Title Search provides the property’s tax status and assessment details for all applicable jurisdictions that the property owner is responsible to pay. Should there be delinquent taxes, the report will include the amount presently due including interest. Two out-of-family, full value transfer deeds are provided. This means that an out-of-family, full value deed into the current owner, as well as one into the prior owner, are included. All mortgages taken out by the current and prior owner are reviewed, and any that are open are reported. Documents associated with the open mortgage are included, as well. This would include document types such as modifications, assignments, foreclosure actions, etc. Judgments and liens against the property and the current and prior owners are provided. If a foreclosure deed is present, the foreclosed lien is provided along with the supporting foreclosure documents.
The Cost of Title Searches in Louisiana
|
Type of Search |
Cost |
|---|---|
|
O&E Report (Residential) |
$125.00 |
|
Two Owner Search (Residential) |
$175.00 |
|
30-Year Search (Residential) |
$250.00 |
|
Title Update |
$50.00 |
|
Chain of Title Search |
$75.00 |
|
Commercial O&E Report |
$350.00 |
Price depends on the county; lowest price shown. Prices are subject to change.
Tax Deeds in Louisiana
Louisiana tax deeds have a three-year redemption for the lender or borrower to redeem and get ownership back. Once the redemption period has passed, the purchaser of the tax deed/certificate can file a lawsuit to quiet the title, which provides the purchaser with clear title and full ownership of the property. If the lender missed the redemption, they can most likely negotiate a deed transfer from the tax deed buyer to possibly cure the title.
Per Louisiana statute, if it is too late to redeem the property, the only legal remedy is a lawsuit to annul the tax or adjudication sale or negotiate a settlement with the tax deed purchaser. It’s possible to work with the tax deed purchaser to allow “redemption” after the redemptive period has expired by issuing a quit claim deed. The most common grounds for annulment are failure to give notice, a “redemption nullity”, redemption, or payment. If an action to annul is successful, the tax debtor must still pay the redemption amount to reclaim the property, unless the ground for nullity is that the taxes were paid and current at the time of the tax sale. Additionally, redemption by a third party to a different person may not “redeem” the property in respect to interest, as the third party would need to either convey their interest or file suit to obtain clear title.
In summary, if the mortgage is still active, curative action is needed to clean the ownership chain as the ownership can be split 1% to the tax deed owner and 99% to the current owner.
Louisiana Counties Served
Acadia, Allen, Assumption, Avoyelles, Beauregard, Bienville, Bossier, Caddo, Calcasieu, Caldwell, Cameron, Catahoula, Claiborne, Concordia, De Soto, East Baton Rouge, East Carroll, East Feliciana, Evangeline, Franklin, Grant, Iberia, Iberville, Jackson, Jefferson, Jefferson Davis, La Salle, Lafayette, Lafourche, Lincoln, Livingston, Madison, Morehouse, Natchitoches, Orleans, Ouchita, Plaquemines, Pointe Coupee, Rapides, Red River, Richland, Sabine, St Bernard, St Charles, St Helena, St James, St , John the Baptist, St Landry, St Martin, St Mary, St Tammany (Covington), St Tammany (Slidell), Tangipahoa, Tensas, Terrebonne, Union, Vermilion, Vernon, Washington, Webster, West Baton Rouge, West Carroll, West Feliciana, and Winn.
Testimonials
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“I have used ProTitleUSA for 5 years now and they are easy to work with, efficient, have fair prices and always turn around my orders within 48 hours if not faster. I have recommended them to many other investors.” –LL