What is mortgage and what is current owner search and what difference between current owners search and update search.

Question

Accepted Answer

A mortgage is a loan used to purchase a property. A current owner search is a title search to determine the current owner of a property.

A mortgage is a legal agreement in which a lender agrees to loan money to a borrower to purchase a property.
A current owner search is a title search that determines the current owner of a property and any liens or encumbrances on the property.
An update search is a title search that is conducted after a current owner search to ensure that there are no new liens or encumbrances on the property.
The difference between a current owner search and an update search is that a current owner search determines the current owner and any existing liens or encumbrances, while an update search ensures that there are no new liens or encumbrances since the last search.

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