Performing an asset search will help you know if your business partners, employees, and investors are trustworthy and whether they are capable of growing the business. There are many laws for the protection of an individual’s assets however, it is the asset owner’s responsibility to collect information to minimize frauds and illegal activity.
Depending on what types of information are required, there are asset search levels to choose from. Basic asset searches include properties, credit history, and the personal belongings of individuals and corporations. Many websites offer asset searches, providing details such as financial ventures of recent years, tax liens, claims, asset ownership, whether there has been bankruptcy, and more.
Online asset searches use modern databases to ensure that details and figures are up to date and accurate. The property and financial assets are verified to ensure the person being investigated is telling the truth. While viewing an asset search report, you should know the negative signs such as:
- Does the person’s lifestyle match the person’s estimated income? If the person’s lifestyle is beyond their income beware.
- Does the person have civil suits filed against them or have they filed civil suits against others?
- Has the individual declared bankruptcy? Although it is not necessarily a negative indicator, find the cause of that bankruptcy.