What is Title Insurance?
WHAT IS TITLE INSURANCE?
Whether it is your first time or fifth time buying a home, the process comes with a tremendous amount of moving parts. This includes third-party companies that represent both the buyer and the seller.
Do you know the difference between Title and Escrow? If you don’t, you’re not alone. Many people use the terms interchangeably, which isn’t accurate. They are two very different parts of the real estate transaction.
ROLE OF TITLE
- Take into account background information about the property that is being purchased.
- Transfer the actual property ownership between a seller and buyer.
Information they gather
- Does the seller own the property and can they transfer the ownership of the property to the potential buyer?
- Are there any liens that need to be addressed?