Title services refer to the activities involved in the process of transferring ownership of a property from one person to another. Title services are essential in real estate transactions as they ensure that the buyer obtains a clear and marketable title to the property. The process of title transfer involves several steps, including title search, title examination, title insurance, and closing.
Title search is the first step in the title services process. It involves a thorough search of public records to determine the ownership history of the property, any liens or encumbrances, and any other factors that may affect the title. Title examination is the second step in the process. It involves a detailed review of the title search to ensure that the seller has the legal right to sell the property and that the buyer will obtain a clear and marketable title.
Title insurance is another critical component of title services. It protects the buyer against any defects or issues with the title that may arise after the sale. Title insurance policies typically cover issues such as fraud, forgery, undisclosed heirs, and errors in public records.
Finally, the closing is the last step in the title services process. It involves the transfer of ownership from the seller to the buyer, the payment of closing costs, and the recording of the transaction with the appropriate government agency.
In conclusion, title services are essential in real estate transactions as they ensure that the buyer obtains a clear and marketable title to the property. If you are buying or selling a property, it is crucial to work with a reputable title services provider to ensure a smooth and successful transaction.
Want to learn more about the title services we offer? Visit our SERVICES page or contact Velocity title at (407) 636-2333