 Sam
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Joined: 21 May 2005
Posts: 281
Location: CALIFORNIA
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 Posted: Sun Apr 11, 2004 5:39 am Post subject: Certificate of Title |
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Certificate of Title is a certificate of opinion rendered by a title company or attorney which is based on an examination of specified public records.It states that the current owner has good marketable and insurable to the real property or vehicle. It is a document that assures you, the buyer, that the person selling you his house is the legal current owner of the property and that no one else has any legal claim to the property, before the title is transferred at closing.
This certificate does not protect you against loss if a hidden claim emerges after you buy the house, only a title insurance policy can do that. The issuer of a certificate of title is liable only for damages due to negligence. |
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