Black Knight Financial Services [1] launched its Municipal Lien Search solution Wednesday to help uncover property debts and reduce risk associated with liens not included on property reports or outside of the scope of title insurance coverage. County debts; code and force violations; waste, water, and sewer are examples of these liens.
Undiscovered and unrecorded municipal liens become the responsibility of the new property owner upon closing. Black Knight said its Municipal Lien Search solution is a faster and simpler way to help identify unrecorded property liens through access to more property and tax data than can be pulled from a traditional online title search. Black Knight explained that they can help identify outstanding property liens, violations, assessments, and more that would fail to show up in a standard title search. The search presents findings in a clear, concise report with the necessary contacts to resolve outstanding issues.
The Municipal Lien Search solution is available nationwide and is requested and delivered through Black Knight’s OrderPoint technology, an online tracking and delivery tool that is integrated with Black Knight’s national title production network.
“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,” said Lisa Roessler, Vice President of Black Knight’s Title Solutions division. “Making buyers aware of any outstanding liens before closing helps reduce their risk and provides for a better borrower experience.”