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Title Companies |
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What does a title company do for its clients? |
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A title insurance company issues insurance policies that protect the property owner or the mortgage lender from unexpected claims that threaten the ownership. After researching the history of the property as shown in the public records, the company would protect against losses from legal and financial problems that might arise from thing like forged deeds in the past or long-dead second cousins who should have signed off and never did. The title company also agrees to defend the title in any lawsuits that might arise from covered defects.
In some areas, title companies handle closings, providing the legal work like title search and abstracting that is done, in other states, by attorneys or escrow companies, and supervising the final settlement and transfer of title. |
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Edith
Originally published on September 26, 2007 |
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