O&E is Owners and Encumbrances, it provides current information such as the current or last owner, liens and encumbrances of records, any pending litigation, construction permits filed in the past (usually) 6 months, ordinance violations and current taxes as well as other current matters.

@Ram SrinivasanI set out to answer you this morning, but BP suddenly decided I was an unverified user and would not permit me to post ....

It was a nice 3000 sq ft  house on a 2 acre wooded lot across the street from a 30 sq mile recreational reservoir where lake frontage homes were listed at $500,000 and up. 

The seller had pulled permits back in 2011 to de-convert the basement and do some other items but never paid for the permits or actually done any of the stuff.

For example, how do I get a permit without plans for interior work?

Hi Jeremy, I don't have a yes or no answer, but with my experience here in San Francisco as an Interior Designer we don't flip homes without getting a permit and a licensed  contractor especially if it's a major renovation.

We will permit the work so the city will know. 

We opted out of 1 of the offers submitted as the property did not have permits with the city for the 2nd unit. 

A new contractor has just handed me some paperwork to sign; the Notice of Commencement, which to my understanding, is required that I sign, and a builders permit that he wants me to sign and have notarized prior to him doing his part.  

Custodians are permitted to custody assets held in an IRA under IRC Section 408.