Who Really Owns Your Home?
Are you sure you truly own your home? In Colorado, there’s a simple way to find out—by ordering an Ownership & Encumbrance (O&E) report.
An O&E report, available from a title insurance company, provides a snapshot of your property’s legal status. It includes the most recent deed in the chain of title, any recorded liens, and the legal description of the property. In the Denver metro area, this report typically costs less than $10. In mountain or rural areas, it may run between $30 and $100.
In most cases, the O&E is straightforward. But in our experience, roughly 1 in 20 reports reveals a problem.
Common Issues We Find
- Deceased Individuals Still on Title:
If the property was held in joint tenancy with right of survivorship, removing the deceased is usually a simple process. However, if the property was owned as tenants in common, it can be more complex and may require a probate proceeding. - Unreleased Liens:
Occasionally, a lien—such as an old deed of trust—was never properly released. If the real estate transaction was handled by a reputable title company and involved a recognized lender, resolving the issue typically involves working with the title company.
If the closing was recent, it’s more tedious than difficult. But if it happened years ago, the process becomes more complicated. That’s why it’s crucial to keep your closing documents and title insurance policy in a permanent file.
How to Get an O&E Report
You can usually order an O&E report directly from a title company, although you may need to create an account. Our office can also assist and will add a $20 fee to the title company’s charge.
Keep in mind: Understanding an O&E report requires some knowledge of real estate terminology and legal documents. An O&E is not insurance or a guarantee. If you need help interpreting your report, we’re happy to assist.
