To begin, the term “title” refers to your whole legal right to own, use, and dispose of real estate. The title and escrow include all past ownership uses and transfers. To properly transfer real estate property, a title check is required, and in most cases, the title must be proven free of any circumstances that could compromise your right of possession.
Let us see how the process of title and escrow:
- Firstly, a title examination is conducted to see if a title is clear and free of liens. During the title examination, the settlement agency looks for liens, encumbrances, and errors in public records. Defects are defects or omissions in the title that affect it.
- Once the title has been cleared, the lender and the buyer receive a title commitment. All title documents are created using settlement software such as Qualia.
- The settlement company is also in charge of the real estate transaction’s accounting and money transfer.
- The company acts as a neutral intermediary, storing the monies in an escrow account until the transaction is finalized.
- The buyer and seller are given documents during the closing, which is usually held at the title company’s office. The title company keeps track of the documentation and sends some to the county recorder’s office. Settlement software and other eClosing technologies can be used to send documents to the recording office in person or electronically.
Branson Abstract Company, Inc. is a corporation based in Branson, Missouri. Bronson Abstract Company has built a reputation for providing real estate title and closing services to buyers and sellers. Our specialists have the education, expertise, and technological know-how to offer you personalized service and attention.
If you are looking for our services in the Bentonville, Rogers, AR, Springdale, Fayetteville, Bella Vista, and AR areas, look for us.