The “Patriot Search”

The “Patriot Search” | Patrick Yu

{1:48 minutes to read} In my last blog, I discussed the 6 myths about title insurance. In this blog, we go a little deeper into the subject of title insurance and a problem that can hold up a transaction. When ordering title insurance, you may have heard the term “Patriot Search.” Title insurance agents are required to do a search to make sure than no party to the transaction (for example, buyer, seller, mortgagor, mortgagee) is on a list of Specially Designated Nationals(“SDN”) or list of Foreign Sanctions Evaders (“FSE”) created by the Office of Foreign Assets Control (“OFAC”), an agency of the U.S. Department of the Treasury.

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