Title companies conduct "title searches" looking at real estate records trying to find information about the property you are trying to purchase. Such information includes:

  • Identifying the legal owner of the property
  • Liens
  • Judgments
  • Unpaid taxes

After the search is complete, the title company will complete a "commitment of title insurance" on behalf of either the lender or the buyer. This step ensures the buyer is receiving a clear title on the property and any outstanding issues are resolved. Once these steps are done, the title company will use their underwriter to issue a policy of title insurance covering the lender and the buyer.

Oftentimes, title companies also maintain escrow accounts with the money needed at closing. This ensures that the money in escrow is available and goes to the correct parties when you close on your house.
The title report is prepared by the title company and discloses any information about easements, restrictions, ownership, and liens on the home.
The settlement is another term for "closing." It's the completion of a real estate transaction where the title passes from the seller to the buyer.
Closing is another term for "settlement." It refers to the part of the real estate transaction where the title moves from the seller to the buyer's hands.
Unfortunately, no. Some title companies only sell the insurance and others only work in escrow. Marble Title & Escrow can help you with all of your closing needs.
Title insurance protects mortgage lenders and homeowners in the event there are disputes over the property’s title. The title insurance company will issue title insurance after it finds the property’s title is valid. The insurance policy protects the lender or the owner from any lawsuits, claims, or legal fees that come up because of disputes over who owns the real estate.

The insurance policy will pay for any legal defense costs and reimburse you for any mortgage payments you are unable to make due to losing the house to someone else's claim on it.
A title is a right to ownership of specific real estate property. Included is the right of possession, right of exclusion, right of control, the right of enjoyment, and right of disposition. Titles can change hands through a will, court decree, law, or by selling the property. Any time a title is transferred it is recorded in a deed and filed with county clerks.
No. Title insurance, unlike other insurance policies, is not billed as a monthly premium. It's a one-time cost you pay at the time you purchase your home. The policy lasts for the time you and your heirs own the property.
The exact cost of title insurance varies based on the size of the loan and the state the property is located in, but most lender’s policies fall somewhere in the range of a one-time payment of $500 to $1,500. The state you’re in is the most important factor in how much a policy costs. Different states have different requirements, which makes the price vary widely from place to place.
Yes. Sellers can require a buyer to purchase title insurance, but they can't dictate which company to use.
Unless you are paying for your home out of pocket, your lender will more than likely require you to purchase title insurance. It's advisable to purchase a policy to protect yourself as well. By doing so, you are protecting yourself from title defects that may give someone else claim to your property.
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