| You do not generally buy more than a single property | | | | by state. |
| in your lifetime. It is a high value transaction involving | | | | Property has Clear Title |
| legal risks. Besides using a professional home | | | | The other important objective of the title company |
| inspector for pre-inspection of the home, the buyer | | | | would be to ascertain the title of the property being |
| has to rely on a number of other professionals such | | | | purchased by the buyer is absolutely clear. This would |
| as real estate attorney and a title company. The title | | | | mean that the property does not encumbrance or is |
| company performs the necessary role of checking all | | | | not under lien. There is no property or any other |
| aspects relating to the title of a property right from | | | | fiscal tax or costs due by the seller to the state. |
| the legal ownership to title insurance. The buyer and | | | | Title insurance |
| title company have a common goal of avoiding any | | | | In many instances, the title company also organizes |
| legal disputes which might emerge later in case the | | | | for title insurance to the buyer against any legal risks |
| title of the property is not clear. It would be Title | | | | that might surface in the future. This would insure |
| Company's prime responsibility to provide the | | | | the buyer against any ownership issue emerging in |
| necessary comfort and assurance to the buyer that | | | | future and costs involved in litigation and other |
| the property he intends to buy is free from any legal | | | | matters related to settling any dispute regarding the |
| trouble and would not lead to any ownership dispute | | | | sale being made by the actual owner of the property. |
| once the buyer closes the transaction. The title | | | | Though the buyer has the right to choose his title |
| company starts playing its role as soon as the sale | | | | insurer, the buyer usually prefers the same company |
| agreement is signed between the buyer and the | | | | with whom the lender takes tile insurance cover. |
| seller till the time that the title is transferred from the | | | | When a title company is satisfied with respect to title |
| seller to the buyer. They have to ensure compliance | | | | of the property, they issue a document called as the |
| to the necessary real estate laws and regulations of | | | | "Commitment of Title Insurance" to the mortgage |
| the state in which the transaction takes place. The | | | | lender along with a copy to the other parties involved |
| primary role and responsibilities of a title company is | | | | in the deal i.e. the buyer, seller, realtor and the real |
| covered in the sections below | | | | estate attorney. As a buyer it is essential that you |
| Verification of the seller | | | | understand the role and responsibility of the title |
| Their main role is to establish the seller in whose | | | | company. It is in your interest to get all ownership |
| name the property is registered as per the legal | | | | and legal details about the property that you intend |
| documents submitted with the State. The title | | | | to buy. Share the responsibility with the company |
| companies find out the legal owner of the property | | | | checking the title for your property and understand |
| by examining and verifying the public land record held | | | | the details that they provide. |