O&E Reports: Real Estate Radio Hour Legal Minute, February 1, 2014



February’s Legal Minutes all follow a consistent theme; namely, mistakes that people make in real estate transactions that could be avoided by using a knowledgeable real estate attorney (i.e., me). 


The February 1 segment deals with Owner and Encumbrance reports.  You can listen to the clip here

An Owner and Encumbrance Report, also referred to as an O&E Report, is a simplified non-insurance title report designed for informational purposes to aid in closings of equity and home improvement loans. This search is also widely used by Investors and Homeowners to check open liens and Judgments against the property.  An O&E report is a limited search of public records and reflects the current owner of the property, how the property was conveyed to the current owner, open mortgages, liens and judgments, tax information, and the legal description of the subject property.  O&E reports are typically less expensive than a title insurance commitment, and hence they are frequently used prior to certain types of real estate transactions to determine the status of a title in an expedient, cost effective manner.


As always, archived segments are available here, and be sure to tune in to the show live every Saturday from 10 AM – 11 AM, Central Time, on WCCO Radio 830 AM.

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