I had a title search done when I bought the property. Why do I need another one now that I'm refinancing?

There is the possibility for many issues to come up on any given property. For example, taxes are assessed every year. They are a lien on the property until they are paid. You may have taken an equity line out against your home to buy a car or pay for tuition, not realizing that this is now a lien on your property. Any individual could file a lawsuit against you that could become a lien on your property. As you can see, there are many things that can happen during your time of ownership that would require a title search to discover. Remember, the title search is not only for your protection, but also for the bank who is lending you a lot of money.