The buyer typically wants to obtain clear title to any plants or other real estate owned by the target, since these are material to the operation of the business. Title to real estate is transferred by a deed, which is publicly recorded. (Title certificates are also used in certain locations.) There is no notary of the kind found in many civil law countries. In most US states, title to real property is investigated and assured by title insurance companies. The title company will insure clear title, subject to certain specified exceptions, such as identified mortgages, easements, and servitudes. If significant real estate is owned by the target, title insurance is often obtained even if shares are being acquired and no real property is actually being transferred.
 
The buyer may also obtain a survey of the property that indicates the location of all buildings, easements, servitudes (such as utility lines), and other matters affecting the physical layout of the property, and that discloses any difficulty with access to the property. As noted above, the buyer may wish to obtain an environmental audit as well. The buyer will want to ensure that the property is being used legally and in compliance with all building codes and zoning ordinances; these will be covered by title insurance only if specifically requested and paid for. In an asset acquisition, the transfer of real estate will require the payment of state and local transfer taxes, but with certain exceptions, these tend to be far lower than in most other countries.