What is the primary purpose of conducting a title search?

The primary purpose of conducting a title search is to find existing liens and legal claims against the property. A title search is a thorough examination of public records to verify the legal ownership of a property and to uncover any encumbrances that may affect the title. This includes identifying mortgages, unpaid taxes, judgments, and any other claims that could limit the owner's rights or responsibilities. Understanding these existing liens and claims is crucial for prospective buyers and current owners as it helps ensure that they have clear title to the property, free of any legal disputes or financial liabilities that could hinder their ownership.

Other options, while related to property management or ownership, focus on different aspects. Assessing property value for taxation pertains to determining how much tax the owner will owe, rather than examining the legal aspects of ownership. Determining the best improvement projects for the property relates more to development and investment rather than the legal condition of the title. Evaluating the physical condition of the property involves inspecting the structure and its systems but does not address the legal standing or potential claims on the property itself. Thus, option B accurately reflects the fundamental objective of a title search.