| Q: |
What is the
function of a Title Insurance Company? |
| A: | Legal statutes provide that buying and selling of
real estate must involve an independent third party to
facilitate the performance of escrow, closing and settlement, and
the issue of title policies. A full service title company performs the
search on the property, conducts the requisite due diligence to review the Chain
Of Title, identify any inconsistencies, liens, judgments, etc., issue the Commitment
To Insure, manage
the funding through escrow accounting, coordinate all activities
between the buyer, seller, realtors, mortgage brokers, lenders etc., conduct the closing,
disburse funds, issue the Title Insurance Policy to both the buyer
and lender, and finally get all required documents recorded to establish your
ownership. |