The preliminary title report is prepared prior to the issuance of a policy of title insurance. The company issuing the report conducts an extensive search of the public records in order to determine the vesting of the subject real property and what liens or encumbrances affect the property. This information is reduced to writing in the preliminary title report.
The title company has its own copies of most of the public records necessary for a title examination. This compilation of the public records is known as the title plant.
A title plant must contain copies of relevant public records and must be composed of a general index, adequate maps, and a currently posted tract or geographical index for all lands in the county for which title policies are to be issued. Even though a title company has a title plant, it sometimes must examine additional public records in order to complete its search.
After the examination is concluded, the report is typed and forwarded to the interested parties for their inspection.
Notes relevant to the transaction. Example: paid taxes will be shown as a note.