Why title companies need the seller’s Statement of Information

When a title order is opened, the title company will review those records which describe the subject property. These include deeds, deeds of trust, easements, CC&Rs, agreements, and other recorded instruments. However, these only represent a portion of the documents which may affect the title to the land. There are also judgments, tax liens, bankruptcies …

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Title Insurance Terms

Escrow sale fee – Escrow sales fee is the fee paid for the escrow process in a home purchase. It is not applicable to refinancing a home. Escrow loan fee – It is a fee tied to the loan fee for a sale or purchase of a home. Some escrow companies require this fee. For …

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Common Title Obstacles

The following items require added clearance and processing time for escrow and title. Avoid delays by providing as much information as you can as soon as possible. Bankruptcies Probates Foreclosures Establishing Fact of Death – Joint Tenancy Use of, Proper Execution of Power of Attorney Family Trust Business Trust Recent Construction Physical Inspection Findings – …

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Separate title policies for owners and lenders

Why are there separate title policies for owners and lenders? There are two types of title insurance: owner’s title insurance, called an Owner’s Policy, and lender’s title insurance, called a Loan Policy. Most lenders require a Loan Policy when they issue you a loan. The Loan Policy is usually based on the dollar amount of …

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