What a title company do is make sure that the title of the property is legal, after which they issue title insurance for that company.
This will make the buyer stress-free, as they can be sure that if they buy the house, they will be the legal owner of it.
To make sure that the owner is genuine, this type of company does a little research.
They thoroughly examine the records of the property.
They ensure that the company or person, who is demanding that the property is theirs, is right.
This is designed to make sure that no other person can claim partial or full ownership of the home.
It is often that the title companies maintain escrow accounts which contain the funds that are required to close on the home.
A settlement agent from the title agent company brings all the required documentation at the closing, explain it to both the parties, obtain closing costs and distribute monies.
In the end, this type of company makes sure that the deeds, new titles and other documents get filed with the appropriate entities.
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