 Sam
Site Admin
Joined: 21 May 2005
Posts: 299
Location: CALIFORNIA
127.83 Dollars($)
|
 Posted: Mon Apr 05, 2004 1:56 am Post subject: Title Company |
|
|
A title company is an organization that specializes in:
- Checking the property title for liens:
The title company carries out a title search which involves the examination of public records related to title to the property. This helps to verify if there is a lien, mortgage, judgment or any other claim against the property.
- Removing any cloud in the title to the property:
A title search examines whether all the previous owners of the property have given up their rights to the property. This helps to remove any cloud or defect in the title to the property.
- Issuing title insurance:
The title company also issues a title insurance policy to compensate losses that may occur from a defect in the title to the property. The owner may discover after closing that a third party can claim ownership of his property. It is the title insurance policy that helps him recover from losses. The lender can also apply for such a policy in order to protect his interest in the property.
Related Article:
|
|
