Frequently Asked Questions

What is a Title Search?

A title search is a comprehensive examination of public records to verify the legal ownership and history of a property. It ensures that there are no outstanding claims, liens, or other issues that could affect the property’s ownership rights. Conducting a title search is crucial before purchasing a property to ensure a clean and marketable title.

What is Title Insurance? And Do I Need It?

Title insurance is a policy that protects property owners and lenders from financial loss due to defects in a property’s title. It provides coverage for issues like undisclosed heirs, fraudulent signatures, errors in public records, or undiscovered liens. Title insurance is typically required by lenders to protect their investment, and obtaining an owner’s title insurance policy is highly recommended for buyers to protect their ownership rights.

What is Escrow?

Escrow is a financial arrangement where funds, documents, or assets are held by a neutral third party, such as Trust Title, until the terms of a transaction are fulfilled. In real estate, it involves the depositing of earnest money and necessary documents, such as the deed, during the transaction process. The escrow agent ensures that all conditions are met, coordinates fund disbursement, and facilitates the transfer of ownership. Escrow provides a secure and impartial process, minimizing risks and protecting the interests of both buyers and sellers.

What is the Role of the Title Company in the Transaction?

Trust Title plays a vital role in facilitating real estate transactions. We conduct title searches to verify the property’s ownership and identify any title issues. We also prepare the title insurance policy to protect the buyer and lender from potential risks. During the closing process, we coordinate with all parties involved, collect and distribute funds, record the necessary documents, and ensure a smooth transfer of ownership.