> ## Documentation Index
> Fetch the complete documentation index at: https://docs.pylon.mortgage/llms.txt
> Use this file to discover all available pages before exploring further.

# Preliminary Title Report for Subject Property

> Provide a preliminary title report for the subject property so the lender can confirm ownership, liens, and any title issues that may affect first-lien position or eligibility.

## What this task is

This task collects the **preliminary title report** (or equivalent title commitment) for the **subject property** on the loan.
The report outlines:

* **Current vested owners**,
* All **recorded liens, mortgages, and encumbrances**, and
* Any **easements, restrictions, or title exceptions** relevant to the property.

This document is the foundation for evaluating whether the lender can obtain the **required lien position** and whether there are **title-related issues** that must be cleared before closing.

## When this task is required

This task is required when:

* A subject property has been identified for the loan, and
* A **title insurance provider has not yet issued or provided** a preliminary report, or the existing documentation is incomplete or outdated.

It applies broadly across:

* **Purchase transactions**, where title must move from seller to borrower.
* **Refinance transactions**, where the lender must confirm the existing liens and ownership prior to issuing new financing.

## Why this task is required

Lenders must ensure:

* The borrower (or other approved parties) will hold **clear and insurable title** to the property.
* The lender’s loan will be recorded in the **intended lien position** (usually first-lien).
* There are no **unresolved title defects** or undisclosed liens that could:
  * Impair marketability,
  * Increase risk of loss, or
  * Violate investor or insurer requirements.

The preliminary title report helps underwriters and closing teams:

* Identify **existing mortgages, judgments, tax liens, or other encumbrances** that must be paid or otherwise addressed.
* Understand **easements or restrictions** that could affect property value or use.
* Confirm that **vesting and legal description** match the information in the loan file and closing documents.

Without a thorough title review, the lender cannot be confident that it will receive the **protection and priority** required to fund the loan.

## Documents needed to resolve this task

To satisfy this task, provide:

* A **preliminary title report** or **title commitment** for the subject property:
  * Issued by a licensed **title insurance company** or its agent.
  * Showing **legal description, current ownership, all recorded liens, encumbrances, easements, and exceptions**.
* If available, any **supporting documents or prior policies** that clarify complex title histories or prior corrective actions.

These materials allow the lender and title/closing partners to clear any issues and ensure that final closing documents reflect **accurate vesting and lien position**.