Black Knight Financial Services has introduced a municipal lien search that helps find liens that are not included on property reports and are outside the scope of title insurance coverage, the company announced.
The tool focuses on county debts, code and force violations, waste, water and sewer – unrecorded liens that sometimes go undiscovered and become the responsibility of the new property owner upon closing. Findings are presented in a report that includes the contacts needed to resolve outstanding issues.
“With this innovative tool, which is part of our national, comprehensive title solution suite, we are helping buyers and title companies keep informed during the origination process by shedding light on any outstanding debts on a property,” Black Knight Title Solutions Division Vice President Lisa Roessler said in a release. “Making buyers aware of any outstanding liens before closing helps reduce their risk and provides for a better borrower experience.”