Insight

What is a Title Company Responsible for?

What is a Title Company Responsible for?

Roy D. Oppenheim

Roy D. Oppenheim

November 29, 2018 08:42 AM

What a title company responsibilities are

Have you been advised to hire the services of a title company, but are wondering how they can be of help to you? A Title Company plays a crucial role in the real estate industry. Unfortunately, most people don’t know how crucial that role is. Most of the time, they act as an agent for the buyer, the seller and the insurance company, and take part in the transaction process. In this article, we discuss a title company’s function and responsibilities in more detail.

What are the responsibilities of a Title Company?

  1. They conduct title searches.

One of the key roles of a title company is to conduct title searches. In real estate, title actually refers to equitable interest and numerous legal rights that pertain to a particular piece of property. A title search is a crucial process that helps provide valuable information about a property that is about to be sold or bought. A title search will help to disclose existing lines of credit, judgments, special assessment, and unpaid taxes, and other issues. The title search will also help to uncover any leases, easements or any other restriction that should be a concern to the buyer. Once the title company has successfully conducted a title search, it will issue a detailed report of their findings to the parties involved in the sale and purchase.

  1. They issue Title insurance policies.

If a title search is conducted properly, then the buyer should have absolutely nothing to worry when they close the deal. However, regardless of how thoroughly the search is performed, it is possible to miss something. Some of hidden problems that can arise later include things like defective deeds, land mineral rights that were previously unknown, forgotten wills, invalid court proceeding and undisclosed heirs. Title insurance is crucial because it helps to protect the buyer against unforeseen issues that may arise later. It also helps to protect buyers from fraudulent ownership claims.

  1. They act as closing agent.

The title company usually act an agent of each party involved in the transaction process. As a result, they are closing agents. One of their main role is to ensure that all parties involved in the transaction process sign valid closing documents. Once the deal is closed, they usually record all documents and present them to county’s recorder’s office. The closing process is quite complicated, especially for mortgages. Many signatures, forms and documents are needed. The title company will help ease the process by acting as the closing agent. They will act as the intermediary between the buyer and seller as well as ensure that all necessary documentation is served, signed and recorded.

  1. They serve as escrow office.

If you hire the services of a title company, then they will most likely act as your escrow officer. This means that they will be responsible for handling all funds including down payment and closing costs. They will ensure that all funds are paid and disbursed properly. They will work closely with all parties involved as per the instructions provided to them.

Weston Title & Escrow Inc

2500 Weston Rd Ste 404, Weston, FL 33331

(954) 384-6168

Email: contactus@westontitle.com

Original source: https://westontitle.com/weston-title-news/title-company-responsible/

Related Articles

Choosing a Title Company: What a Seller Should Expect


by Roy D. Oppenheim

When it comes to choosing a title company, how much power exactly does a seller have?

Choosing the Title Company As Seller

Trending Articles

2025 Best Lawyers Awards Announced: Honoring Outstanding Legal Professionals Across the U.S.


by Jennifer Verta

Introducing the 31st edition of The Best Lawyers in America and the fifth edition of Best Lawyers: Ones to Watch in America.

Digital map of the United States illuminated by numerous bright lights

Unveiling the 2025 Best Lawyers Awards Canada: Celebrating Legal Excellence


by Jennifer Verta

Presenting the 19th edition of The Best Lawyers in Canada and the 4th edition of Best Lawyers: Ones to Watch in Canada.

Digital map of Canadathis on illuminated by numerous bright lights

Discover The Best Lawyers in Spain 2025 Edition


by Jennifer Verta

Highlighting Spain’s leading legal professionals and rising talents.

Flags of Spain, representing Best Lawyers country

Legal Distinction on Display: 15th Edition of The Best Lawyers in France™


by Best Lawyers

The industry’s best lawyers and firms working in France are revealed in the newly released, comprehensive the 15th Edition of The Best Lawyers in France™.

French flag in front of country's outline

Presenting the 2025 Best Lawyers Editions in Chile, Colombia, Peru and Puerto Rico


by Jennifer Verta

Celebrating top legal professionals in South America and the Caribbean.

Flags of Puerto Rico, Chile, Colombia, and Peru, representing countries featured in the Best Lawyers

Unveiling the 2025 Best Lawyers Editions in Brazil, Mexico, Portugal and South Africa


by Jennifer Verta

Best Lawyers celebrates the finest in law, reaffirming its commitment to the global legal community.

Flags of Brazil, Mexico, Portugal and South Africa, representing Best Lawyers countries

Announcing the 13th Edition of Best Lawyers Rankings in the United Kingdom


by Best Lawyers

Best Lawyers is proud to announce the newest edition of legal rankings in the United Kingdom, marking the 13th consecutive edition of awards in the country.

British flag in front of country's outline

Prop 36 California 2024: California’s Path to Stricter Sentencing and Criminal Justice Reform


by Jennifer Verta

Explore how Prop 36 could shape California's sentencing laws and justice reform.

Illustrated Hands Breaking Chains Against a Bright Red Background

Announcing the 16th Edition of the Best Lawyers in Germany Rankings


by Best Lawyers

Best Lawyers announces the 16th edition of The Best Lawyers in Germany™, featuring a unique set of rankings that highlights Germany's top legal talent.

German flag in front of country's outline

Celebrating Excellence in Law: 11th Edition of Best Lawyers in Italy™


by Best Lawyers

Best Lawyers announces the 11th edition of The Best Lawyers in Italy™, which features an elite list of awards showcasing Italy's current legal talent.

Italian flag in front of country's outline

Tampa Appeals Court ‘Sends Clear Message,” Ensuring School Tax Referendum Stays on Ballot


by Gregory Sirico

Hillsborough County's tax referendum is back on the 2024 ballot, promising $177 million for schools and empowering residents to decide the future of education.

Graduation cap in air surrounded by pencils and money

Find the Best Lawyers for Your Needs


by Jennifer Verta

Discover how Best Lawyers simplifies the attorney search process.

A focused woman with dark hair wearing a green top and beige blazer, working on a tablet in a dimly

Key Developments and Trends in U.S. Commercial Litigation


by Justin Smulison

Whether it's multibillion-dollar water cleanliness verdicts or college athletes vying for the right to compensation, the state of litigation remains strong.

Basketball sits in front of stacks of money

The Human Cost


by Justin Smulison

2 new EU laws aim to reshape global business by enforcing ethical supply chains, focusing on human rights and sustainability

Worker wearing hat stands in field carrying equipemtn

Woman on a Mission


by Rebecca Blackwell

Baker Botts partner and intellectual property chair Christa Brown-Sanford discusses how she juggles work, personal life, being a mentor and leadership duties.

Woman in green dress crossing her arms and posing for headshot

Introduction to Demand Generation for Law Firms


by Jennifer Verta

Learn the essentials of demand gen for law firms and how these strategies can drive client acquisition, retention, and long-term success.

Illustration of a hand holding a magnet, attracting icons representing individuals towards a central