Requests a Preliminary Report: “Preliminary report”, “commitment”, or “binder” are reports furnished in connection with an applicat ion for title insurance and are offers to issue a title policy subject to the stated exceptions set forth in the reports and such other matters as may be incorporated by reference therein.
Requests a Policy: Title insurance is insurance against loss resulting from defects of title to a specifically described parcel of real property. Defects may run to the fee (chain of title) or to encumbrances on the property.
Drafts a Deed of Trust: A deed of trust is drafted by the lender or by the escrow officer as directed by the parties. Deed of Trust: Is an instrument that is recorded to secure a loan against your property.
Pays Off Existing Loans: The title company pays off existing loans when so ordered.
Taxes and Insurance: The title company prorates the taxes and insurance upon instructions from the buyer and the seller.
Computes Interest on Loans
Acquires Hazard Insurance
Signing of Documents: Assists the buyer and seller when signing documents.
Recording Documents: The title company records the appropriate documents with the county office, giving public notice.
Disbursement: The title company disburses the documents and monies to each party involved.
